Rise in fuel prices justified?

ISHAN TOPRE

ISHAN TOPRE

@ishan-nohePN • Oct 26, 2024
I recently came across this article actually a short paragraph

U.S. highway travel declined 1.4 percent in March from a year ago as gasoline prices rose, marking the first year-on-year decline in the number of miles driven in 13 months, the U.S. Transportation Department said on Friday.

The report provided some of the first government evidence that soaring prices at the pump have discouraged driving. The national gasoline price rose 21 cents a gallon during March and climbed until it reached nearly $4 this month.

Fuel prices are now falling nationwide, reflecting cheaper crude oil.

Highway travel for the first three months of this year was down 0.1 percent from the same period in 2010, the department said.
Traveling less good? It is better for environment right because it saves fuel? What is your take on it?reduces accidents.

But just due to this fact are in crease in fuel prices justified?

Let us start a technical debate on this topic. Share your opinion 😀

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  • Kautilya

    Kautilya

    @kautilya-K0iLSw • Jul 26, 2011

    Fossil fuels are currently the fastest way to get energy.But the reserves of fossil fuels are limited. So globally there should be a reduction in the extraction of fossil fuels from nature. If there has been a curb on over extraction and that has caused limited supplies then increase in the cost is natural. What this will do is people will start using public transport.

    But if there hasn't been a curb on extraction globally and there has been an asymmetric distribution of fuel,then perhaps cost increase isn't justified.

    Of course this is a very simplistic picture that I have presented and an economist should be better disposed to give us valuable insights.

    But it is my view that if people are forced to use buses(I am not talking of the type of Bus which takes one from Yavatmal to Chandrapur,but one which takes one from Mumbai to Pune) instead of buying SUVs it would be over all better for the human race.
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  • scottaleger

    scottaleger

    @scottaleger-1KwI5H • Jul 27, 2011

    neverRise in fuel prices is not justified
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