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What should be done to cut petrol costs?
May 30, 2008
Fuel prices are set to zoom. Even though the government has not yet decided on whether to increase prices of petrol, diesel, kerosene and cooking gas, all of which are highly subsidized, it is only a matter of time before prices are raised.
The only thing that remains to be seen is the extent to which fuel prices is increased.
As global crude prices are hovering over the $130-a-barrel mark and the heavy subsidy on petroleum products leading to public sector oil companies incurring huge losses, a price hike is inevitable.
In such a scenario, how do you think could the government cut down petrol costs? Could it cut the duty on petrol? What could it do?
Or should it let market forces decide the price of petrol, diesel and gas? What do you think is the best way to conserve oil? How can you make that litre of fuel in your tank last longer? Tell us!