How to Deal with High Oil Prices?

Hello everyone,

The rise of oil prices is due to the increased imports. Various kinds of taxes are levied on it and the prices ultimately get hiked. Also in our country, there is high demand for oils for various purposes and low supply of it. So, in order to decrease its price we need to decrease our consumption which will decrease the demand and hence there will be a balance in demand supply. Firstly we need to be conscious of our usage of oils. Do not keep the engine on when not driving, Use alternate sources of energy, try walking or cycling for smaller distances, try using public transports, make a habit of carpooling. If we maintain all these habits then we can dream about prices of oils to go down. Thank you.

In my point of view, India is imposing the crude petrol from countries like Iran and UAE WHICH are abundant of petrol. Crude oil is available in not much higher price but When Indian petroleum company imported it there are many taxes levy on it. Also company include labour cost production cost transportation cost on it and finally we get price at high price. Here times comes when Demand is more and supply is less as there are very less purging company available in our country. To tackle this situation we must use alternate source of energy like ethanol biogas as conductor of our vehicle. We can also tackle it by using bicycle to go to small distances, avoid using extra petrol when we have no work.

Increasing rate of population also responsible for the oil price hike, because increase in population increase the demand, if demand will increase and supply will decrease the price will obviously increase. So dear Indian please have a better family planning this will save the future generation, we are always busy for now but blind for future. Govt also trying hard to produce renewable fuel produced by biodegradable fuel. We should use public transportation system. We should use electric vehicle. Due to price hike also our rupee value is decreasing compared to dollar, so it is our country and it is our duty to be less dependent on the fuel and try our best to consume the less fuel.

Hi friends, nowadays world population is increasing day by day and also vehicles. The petrol and diesel utility also increases. Everyone desire to have super-bike and car. We know oil is non - a renewable source of energy and the petrol-diesel hardly available for 15-20 years. So we all should to use less diesel and petrol, for instance, for short distance we should go by bicycle or go by walk and for long distance, we use public transport. It's not our government duty, its also our responsibility. For the hence-forth life. We have to discover alternative resource. Just like we know Rupees is decreasing day by day as compared to the dollar that causes inflation for our country.

A go-to measure for the Indian government to counter the rising fuel price is to cut back on the taxes. Currently, the center levies a total excise duty of Rs 15.33 per litre on diesel and Rs 19.48 per litre on petrol. In addition to this, different state governments charge their own VAT.

VAT levied on fuel by state governments in India:

Bihar charges 24.71 per cent VAT on per-litre petrol and 18.34 per cent on per-litre diesel.

Uttar Pradesh takes 26.90 percent VAT on per-litre petrol and 16.84 percent on per-litre diesel.

If Central and State governments decide to cut back on these taxes, even by a slight margin, we could see a significant drop in the rising fuel price.

Hi guys,

Oil prices are purely depended on demand and supply. If demand is more, the supply will become low then cost of oil prices will rise. Buy central government can control the price of oil. For example, if government Wants to raise the oil prices, instead of hiking the oil prices they can hike the price in railways, gas, cigarette, alcohol, etc. Especially they can hike in cigarette and alcohol. Because these two are demandable than petrol.

People should know how to use oil. For example, government Drivers, if they stop the bus in the red signal, they don't switch off the engine they keep it on till the single becomes green. This is also one kind of wasting the oil.

This is a supply and demand of a non-renewable source of energy. Thus if the demand for oil increases as compared to the supply as it does then the prices will rise. As a solution to this, we should move towards renewable sources of energy. India is blessed with the Solar power. This power should be exploited to a substantial extent. Done so will reduce the burden on the government to supply combustible fuel.

Also, the government should sign certain agreement or MoUs with gulf countries. This will reduce the pressure on the supply of oil. Also, various companies and corporate houses should prevent the use of motorbikes and other vehicles which burn fuel in its premises.

We know the recent event in which china is spending large sums of money for the purpose of wind power energy power generation.

It is defined as the most renewable source of energy. Perhaps India can also load some windmills in the southern part of country and put more pressure in energy generation by renewable sources.

Make more use of public transport than using your personal vehicle. This will reduce pollution and helps to consume energy resources.

Furthermore introducing some badaass stuff like electric train, electric buses, hydrogen fuel cars. (which was recently launched in America), will cause lower consumption of oil. And eventually, its prices can fall down.

Firstly, I want to tell that due to high oil prices the price of an essential commodity rises in relation to that the one has to spend more and compensate with the standard of living. (Inflationary Position). High oil prices is a strategic decision by govt to protect the environment from misuse of oils.

A question arises how to deal with high oil prices.

Solution:

* Through sharing of vehicles with others will help in sharing of expenses.
* Use of more public transport utilities.
* By shifting to CNG vehicles.
* Use of bicycles (may be not practical but Rich Peoples in Japan also use bicycles to go somewhere.
* Use of electronic vehicles for transportation purposes.

When we see the price of oil globally and compare it with INDIA, it's very much surprising. Globally oil price is falling. But in India, it's raising, now government selected daily change in oil price. But I feel its useless, why the government Not putting crude oil and oil products under GST. Still, the charging us excise duty on oil, government Reduced 2rs excise duty on oil and told it will be a loss of 26000cr annually for government Showing that like they did a big favor to us. INDIA is also a developing nation like our neighboring countries if we see the oil price of their country it's reasonable. So, in my opinion, oil must bring under GST to control its pricing.