Although the prices of fuels have greatly increased over the last decade or two, it is argued that further increases in fuel prices are the only way to reduce world consumption of fuel and lessen pressure on the world’s fuel resources. To what extent do you agree or disagree with this statement?

News about consistent price hikes

are

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is

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seemingly dreadful to deal with in anticipation. It may be impossible not to wonder about the consequences it may cause in the world economy. For that reason, some people argue the single way to control the overall fuel consumption is by continuously

increase

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increasing

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its prices.

To begin

with, fuel prices can comprise a considerable factor when it comes to 

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the

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macro economy

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macroeconomy

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. Selling prices of 

oil

 directly affect the prices of goods made with petroleum products. 

Moreover

, it can indirectly affect the costs of transportation, manufacturing and heating, which, in turn, influences the costs of goods and services. 

This

can be anticipated to the passing of production charges, from producers to consumers. 

Consequently

,

m

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the

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icro economy may equally suffer, since

oil

 purchases are necessary for 

m

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the

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ajority of household needs. 

This

 is to say, if

oil

prices increase, a vast portion of a family's budget is diminished, leaving barely for other basic goods and services.

Conversely

, because of its broad range of usages and non-renewable properties, the world's fuel resources might be completely consumed. The

oil

manufacturing costs, supply and demand, as well as competition

 

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,

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can contribute to the increasing prices. 

Nevertheless

, if the costs will more significantly rise, economies, particularly those in less-developed countries, will continue to struggle. It may be the

first

 solution in most people's mind, but the government should

also

take into consideration the other methods of producing 

energy

, aside from fossil fuels. Organizations should 

also

 develop sources of renewable 

energy

, like solar

energy

. With these alternatives, 

energy

 supplies can be diversified, and economies' dependence on imported fuels can be reduced. All things considered, I think it is time to fully maximize our resources, to supply the world's soaring demands without completely depleting what is remained in our natural and human wealth.