The Story of Petrol Price Hike in India

“Who will reach the century quicker…..Tendulkar stranded on 99 centuries or the petrol price?”

The escalating demands of the emergent population inIndia, the need for communication and haulage has also ascended enormously. In recent times, the price of vehicles have reduced to a great extent which eased the common man to procure it and resulting in increasing demand of oil. The type of oil used in contemporary conveyances is crude oil or petroleum.

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It is not just that the vehicles are driven by petroleum, relatively all things on the boulevard is scampers on gasoline. Consequently, the intensifying demand exhausted the oil resources that were chiefly protected in the relic coffers underneath the terrain facade to a limited amount. As a result, the valuable oil wherewithal is diminishing and conceivably the human beings are conscientious for being enforced to stumble on unconventional option to surrogate the annulled that will be gone in less than about 50 years from now. Since the resources are inadequate and the demand does not appear to be diminishing, the outlay of the gist is escalating by hurdles and limits. There has been an unremitting hike in the price of petrol since September 2008.

The Saga of the petrol price hike goes on and on. While the people ofIndiastill hovering to observe a comprehensive energy and victuals chomp, connoisseurs anticipated that the demand for energy will further continue to grow. Since September 2008 till November 2011, there was a hike of Rs. 15.42 in the price of petrol inIndia. Petrol prices have observed the hike for the 10th time since July 2010 and this time the prices have increased by Rs 3.14. This continuous price hike has created havoc in the whole Nation. This has augmented the lumber on middle class and lower class people as transportation would turn out to be intricate under such elevated prices of petroleum inIndia. The hike is purportedly rooted due to dwindling of Indian rupee against the dollar. The unremitting trudge in the petroleum price is on the brink of reaching the century at a relatively faster pace than Sachin Tendulkar. The hike in the petroleum price works as a catalyst for price hike of every other commodity available in the market. The most hampered section of the society is the middle-class people and they are suffering a great deal of economic problem as their income level is not seeing a hike and as their expenses.

Nevertheless, while oil is spawning pandemonium, the elucidation to the amnesty aperture lies in the deployment of the non-conventional energy resource, for instance solar energy, wind energy and bio fuels. A foremost sedan companyToyotahas proclaimed the launch of its item that will delve into and develop vehicles driven utterly on non-conventional sources such as hydrogen and solar. The Government should amend their economic policies in order to impede the intemperance of petroleum price rise inIndia. There should be more innovations of motor vehicles that can be driven using other sources of energy.Batterydriven vehicles are another better option which is less energy consuming and eco-friendly. People should be more cognizant about the present condition and crisis of oil the world is facing and should save the resources for the future generations. However, the price of petroleum is seemed to see a hike again in the coming time.

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