How to Deal with High Oil Prices?

Good Evening friends Myself P. Vijay Kumar, I would like to add some few points regarding the Oil Prices in India.

First of all, we have to remember that India is not the oil exporting country it is oil Importing country. In Consumption of oil, India Stood at rd place in the world. Why because Geographically India does not have certain minerals to extract the crude oil. So, it is depending on the Oil exporting countries Like OPEC. To reduce or to Control the Oil Prices India seeks to the Inflation produced in the OPEC countries.

The price of petrol in India is higher than most of the countries in the world. The fact is that India imports huge quantity of petrol from the middle east and presently ink a deal with Russia of importing 2 million barrel crude oil. Thus it is clear that importing crude oil is one of the factors of high petrol prices. So basically to reduce petrol prices ; limited uses and also sustainable petrol consumption is required. Less use of private vehicles; more use of public transport ; high-efficiency petrol or diesel cars ; trucks ; buses and most importantly utilization of electric ; solar or CNG vehicles. Last but not the least more mode transportation by trains will reduce petrol prices significantly. As we know that prices of a thing depend upon supply and demand, Thus less consumption ie less demand will highly impact or reduce petrol prices.

As per my point of view India is world largest oil importer country and our country is also one of the developed countries in the future of in Indian market demand are so high of the oil and this time government focus on solar energy and green energy because there are lot of scope for R&D in solar and green energy.

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 talk about oil prices, We should first focus on the India's economic position in the oil sector. India always being an importer of oil, though India has vast reserves of oil in some of the parts but that is not enough to fulfill the need. Recently the surge in oil prices affected the oil exporter and producer countries that include OPEC countries and Russia but India still facing the Problem of high oil prices because there is no such surging in imported oil to India. So, to reduce oil prices, India should focus on exploiting its new oil reserves found near Rajasthan and Gujarat and should focus on efficiency of ultimate recovery of oil from the pre-existing fields like Bombay high, Digboi etc. Narendra Modi's vision of "Make in India" should be extended to "Produce in India" for oil sector.

If Indian government should focus on the non-conventional energy source then it will also help in reduction in oil prices because of the Supply-demand concept. What I m trying to say is if we use the non-conventional energy then the demand for oil will reduce that will force the exporter countries to reduce their oil prices for INDIA.

Another point that I wanna add is that Apart from the central taxes and state taxes, Oil Marketing Companies (OMCs) also charges about 5-10% of the original prices from the dealer & that extra charge is included in the final selling oil prices in India. Until the oil companies keep charging this much amount from the dealer for their profit, The oil prices in India is not gonna reduce up to a significant amount.

Guys, first of all, I want to highlight the fact that India is the largest importer of oil or crude oil in the world. We import fuel from the other countries. India needs to import 2 million barrel of crude oil from Russia. Also, oil companies in India take 5 to 10 % more than the actual price. So in order to reduce the supply and consumption, we need to take some strict actions. We use public transport example trains, buses etc. We should use the Electric vehicles to travel in our locality. The government should focus on the non-conventional sources of energy. If we adopt all these reforms or suggestions the comsumption of oil will definitely fall down. As a result, the oil companies will decrease the oil price and oil import.

Thank you.

Good morning everyone. Today's topic for discussion is "How to Deal with High Oil Prices?".

As it is known fact that oil is the most important inevitable source of producing energy be it in motor vehicles or in electricity generation, the role of oil can not be denied. Hence, due to large scale demand of oil supply and limited amount of resource present, and majority of oil reserves present in Iran, Saudi Arabia, thus there prices increases due to import from other countries.

Thus, oil prices can be dealt by bringing in alternative technology in place of fossil fuels.

Also, by spreading awareness among people of using more and more public transport or car pooling will reduce the oil consumption and hence the prices.

Thank you.

Hello, everyone.

As we all know that India is one of the high oil importing country. That's why nowadays we are facing the problem of hike in oil prices. Here are some point that helps to deal with the same problem.

- Use of private vehicle should limit rather we should go for gov. Vehicles or common vehicles like train, buses, etc.

- Transporting media which works on electrical, electronics or solar energy help to deal with the problem.

- Short distance walk and use of bicycle also impact on oil consumption which helps to reduce prices of oil and equally good for the health of human being.

Thank you.

Hello friends,

We all know that the oil resources is limited in nature and one day it should be abolished, rather than the focusing on more on the oil resources we should find out the alternative solution, as we know that we are largest producer of sugarcane, and from the sugarcane we found out the ethanol which is the good alternative to oil many countries like America, Russia, and Brazil using this ethanol in transportation so when the other countries using these resources why should we are not using it?