Hike in Oil Price

Suddenly from nowhere in the blue comes an announcement that the oil prices are set to be more dearer now. Is there a need for such rise ? Are other countries like China also doing it ?

Yes, other countries are also doing it but not as frequently as India (11 times in a year. The plain reason for this being that they have a control on black money and money laundering which India under the governance has lost completely. Congress is milking the opportunity of being place with a weak opposition party and hence the ministers are busy conducting their personal welfare than focusing on that of the country.

The mismatch between supply-demand is always said to be responsible for such higher level of equilibrium for oil prices. One can always take care of the supply side to some extent by making complete and efficient use of the fuel. Even today many commercial vehicles which ply on the road are as old as 20 years which add to wastage of fuel. As if this was not enough so to add to the wastage is the sorry state of our roads which slows down the traffic thereby decreasing the mileage of a vehicle.

If these issues are taken care of efficiently then the demand for the fuel can be brought down by a whopping 20% without affecting the lives of common men in any manner whatsoever.

Its high time that we start looking into these matters before its too late.