3. FACT’S BEHIND RISING PETROLEUM PRICE
Population
India is the world’s 2nd largest population. And Also world’s
fourth largest consumer of energy.
With the high increasing rate of vehicles +5% increasing p/y
4. Demand
Higher demand than supply.
India required approximate more than 12 crores ltr. Petrol
and diesel per day.
Total spending of govt. As a whole is considered than 80-
90% is done to pay the import bills on petroleum.
Condition of Indian currency
India is going through currency crisis where value of Indian
Rupee is falling to US Dollar.
from that omcs are paying more for the same quantity of
crude oil.
Due to this, OMCs have lost near about 4,300 crores in the
past six months for selling petrol at low cost.
5. Govt. Policies
Price rise of petrol can be controlled if the government
reduces its revenue from the taxes on petroleum. 35% of
government’s income is generated through petroleum.
6. Rise in income of common man
as in the past few years the income of most of people is
increased so now they can afford their own vehicles to
travel.
7. SOCIAL RECOMMENDATION
We should prefer walking or bicycle for short distances.
we should encourage use of solar and wind energy.
we should reduce the consumption of petroleum products.
8. GOVT. RECOMMENDATION
the government should boost public transportation system.
The govt. should reduce taxes on petroleum.
Govt. should try to find and develop our own oil refinery.
