Price Hike of fuel

The has been a lot of hue and cry over government's proposal to raise the prices of the petrol and petro products, demands have been made to cut the import and excise duty on the imported products. We need to let the market forces balance themselves, other wise the Oil prices will continue to soar. A lions share of the Oil demand is attributed to the demand of petroleum for personal modes of transport of the people.These consumers mainly hail from the higher and the middle class which are not hand-to-mouth and a hike in the price of petrol will not devastate them but only coerce them to use the fuel more efficiently. If the government continues to subsidize oil , with personal vehicles becoming more and more affordable and within the reach of the common man, the demand for petroleum is bound to sky-rocket , resulting in even further increase in the prices in the long run. Hence the government should allow the market forces to curtail the increasing demand. Simultaneously the government should promote other oil-efficient and cheap means of public transport, the money that is being directed towards subsidies and in bailing out the OMCs should be spent on improving the availability and the standards public transport on lines of European countries, such investment will commensurate in the long run. Also the government should promote people to take up healthy transport practices like car pooling.