Eastern countries produces 53% of total Petroleum product !!! Anyhow after the revolution which blast in 1970, America took this issue seriously and till date they have control over petroleum products !!! But what is the status of India ?!?!
After the revolution that broke out in 1970, America made it a point that they would keep the price of petroleum product intact !!! Even after being the leader in consuming petroleum products, rates are still lesser than International markets !!!
On one side, petroleum consumption of America is rocketing, whereas awareness about petrol conservation is also rising in other side !!! Many awareness program was organized by Government in this regard !!!
Now come to India !!! India is the FIFTH largest consumer of petroleum product in the World !!! On an average we consume 29.8 Lak barrels everyday !!! The number may increase to 35.2 Lak barrels per day by 2020 !!!
But we have given full freedom to Oil manufactures to decide their price !!! As a result India experienced price hike for about 8 times in past 11 months !!! Also we have seen more than 50% hike in petroleum fuels in past 2-3 years !!!
In recent days India holds the record of increasing Rs. 6.40 in past 16 days !!! But even now, Oil companies are stating that they are running in loss and they want still more hike !!!
Indian Oil's previous year profit was Rs. 10220 Crore !!! But now reportedly they experiences loss of Rs. 8000 Crore every month !!! Since they have been selling petroleum products for cheaper rates for past few months, they have lost Rs. 67000 Crore !!!
So people get ready for nest price hike !!!
Now come to solution part !!! For any sort of product, there are only two ways to keep the price in control !!!
1. Increase its production !!!
2. Reduce its consumption !!!
The latter is better than the former in India !!! Many countries have taken SMART targets and are working in the direction of fuel conservation !!! But India has never thought about it !!!
Getting car loan has become very easy nowadays !!! Number of cars goes on increasing !!! It is good to see but really it may lead us to panic situation !!!
Developed countries have made stringent rules to reduce individual transport !!! But here, individual transport rate is increasing !!! We are rolling backwards !!! We have to stop and walk forward !!!
Trivia : Government earn 1 Lak Crore every year with the tax imposed on petroleum products !!!
Hope this post was useful !!! Please refer this blog to your friends and relatives !!! Please find time to write back to us !!! Do vote in INDLI, INDIBLOGGER and DIGG, if we deserve !!!
After the revolution that broke out in 1970, America made it a point that they would keep the price of petroleum product intact !!! Even after being the leader in consuming petroleum products, rates are still lesser than International markets !!!
On one side, petroleum consumption of America is rocketing, whereas awareness about petrol conservation is also rising in other side !!! Many awareness program was organized by Government in this regard !!!
Now come to India !!! India is the FIFTH largest consumer of petroleum product in the World !!! On an average we consume 29.8 Lak barrels everyday !!! The number may increase to 35.2 Lak barrels per day by 2020 !!!
But we have given full freedom to Oil manufactures to decide their price !!! As a result India experienced price hike for about 8 times in past 11 months !!! Also we have seen more than 50% hike in petroleum fuels in past 2-3 years !!!
In recent days India holds the record of increasing Rs. 6.40 in past 16 days !!! But even now, Oil companies are stating that they are running in loss and they want still more hike !!!
Indian Oil's previous year profit was Rs. 10220 Crore !!! But now reportedly they experiences loss of Rs. 8000 Crore every month !!! Since they have been selling petroleum products for cheaper rates for past few months, they have lost Rs. 67000 Crore !!!
So people get ready for nest price hike !!!
1. Increase its production !!!
2. Reduce its consumption !!!
The latter is better than the former in India !!! Many countries have taken SMART targets and are working in the direction of fuel conservation !!! But India has never thought about it !!!
Getting car loan has become very easy nowadays !!! Number of cars goes on increasing !!! It is good to see but really it may lead us to panic situation !!!
Developed countries have made stringent rules to reduce individual transport !!! But here, individual transport rate is increasing !!! We are rolling backwards !!! We have to stop and walk forward !!!
Trivia : Government earn 1 Lak Crore every year with the tax imposed on petroleum products !!!
Hope this post was useful !!! Please refer this blog to your friends and relatives !!! Please find time to write back to us !!! Do vote in INDLI, INDIBLOGGER and DIGG, if we deserve !!!
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