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How to Deal with High Oil Prices?


Submitted By moitreyee
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 How to Deal with High Oil Prices?
Currently we are facing a very serious issue, That is, hike in oil prices which is increasing rapidly. Now a day’s oil price is soaring the sky, which can be depicted as one of the major drawbacks in the growth of our economy because high oil prices generally cause a huge negative impact on the global economic growth and continuous depreciation of Indian rupees. So we will discuss how to deal with high oil prices and the methods to overcome.
In India there is scarcity of natural resources due to which we have to import petroleum from other countries. As day by day demand for petrol, oil products is increasing and consumption rate of oil being high, it consequently tends to increase in oil prices. Government is always blamed for ever increasing prices but somewhere we people are also responsible for high oil prices. It is our duty also to see how we can contribute towards reduction in oil prices. We must keep in mind that oil is not extracted in our country, so we should also preserve our resources and them in a sustainable manner.
According to my opinion only solution we are left with to deal with high oil prices is to reduce the consumption of oil i.e.
Decrease in consumption = Decrease in demand = decrease in price.
Now the question arises how to reduce the consumption of oil?
It can only be reduced by combined efforts of both government and Common People.
Following are the measures to be taken to reduce the consumption of oil which in turn will automatically tends to reduce the oil prices.
Efforts from people
• For shorter distances we must go by walk or by bicycle that is we must try to use bicycles more than automobiles. By doing so we can not only reduce the consumption of oil but it will also save our environment from air pollution.
• People of same destination and same work must encourage carpooling.
• We must

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