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.

Hello friends,

We are importing 80% of crude requirement. It has adverse impact on the balance sheet of our country. Hence it is import to work into direction to reduce our dependence on import of crude. There is immediate requirement that we should change our style of commuting. People have to encourage the pooling method of commuting. Secondly, the alternative sources of power production to be encouraged, like using solar, wind technology in place of generators. Thirdly, the tax on buying more than one cars in city should be taxed heavily as has been done in Singapore. Fourthly, Government has to think to bring oil prices under GST. Why not put heavy import duty on import of crude but before that the mass rapid transport in cities has to be strengthened and to be made dependable.

We need to decrease the usage of oil. Nowadays people goes to nearby places they are using vehicles instead of that if we take bicycles or by walk then the usage of oil will be decreased. When demand decreases automatically price will also decreases.

Hello friends,

I respect all of your thought about this, but in my point of view, I summarize the following points.

1. Oil is a non-renewable resource so we have to conserve it.

2. We find some new ideas that automatically reduce the price of oil like electrical vehicles, use public transportation as possible as, uses cycle etc.

3. Oil price can not be reduced because it is a limited resource and also increasing the population. So it is our responsibility that we can use it in an effective way.

Oil is an exhaustible resource, its prices are increased mainly due to more demand. We people can reduce demands by some methods, mainly, by using electric vehicles; bicycles for distances below 2 KM etc. There are other reasons which cause more demand indirectly. They are, using fewer mileage vehicles, over-speeding, keeping the engines running at traffic signals etc. Becoming a responsible citizen will help in dealing with this problem.

Hi friends,

I agree with as they put their views but I would like to add few points. As we all know clearly that mineral comes out after digging on some part of the earth in middle east country. And they also create imbalance on earth as we saw in Uttarakhand that was cause of natural disturbances so what we have to just one i.e. reduce the used oil where solar made thing can be used. Also, increase usage of cycle and tonga while going near the relatives this will also help us to improve our physically strong. But in 2014 America has developed shail oil artificially and he stopped buying oil from Arab countries so prices will definitely go down.

Thank you.

Hey!

I think it's a major concern and the need of the hour to regulate the oil prices and this can be done only when we are aware of the fact that less usage results into a decrease in prices. So start using public transport, start pooling! The days are not far when prices will slash! This is good if seen from other aspects as well.

Hai,

Nowadays, most of the people are using vehicles even they routine works also, so automatically fuel consumption is increasing day to day life.

Our government of India pays much amount of money to foreign countries and to import the oil. Oil is non-renble oils so insure cost of the oil is more and demand is more. Availability of the oil source is less.

So don't waste oils without purpose and introduce biodiesel, hydro power and solar energy in place of oils.

Thank you all.

Hi,

The best way to deal with high oil prices will be to increase domestic crude oil production and decrease the quantity of crude oil imports. Electric vehicles can also be another option but it will take a long time to hold the market due to unavailability of charging infrastructure and high battery costs. So, currently the Government should take steps to increase domestic production so that our dependency on other country to meet the demand is curbed out.

Oil still be the main resource for transportation and power supply in most of developing countries, but the increase in oil prices affect not only developing countries but also developed countries. Higher oil price will cost higher cost in almost all economic aspect, which relates to inflation in one country. How to deal with it? we need to reduce the usage of oil product and start to develop alternative energy to substitute high price oil. There are several possibilities for alternative energy such bio-fuel, CNG, or electric power vehicle and geothermal or solar panel for industry and power generator. This way, other than to provide alternate energy resource we also be able to decrease our dependent of petroleum product in the far future.