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

The recent Ukraine and Russia war has led to a significant increase in the world

price

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of oil (

fuel

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).

Furthermore

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, it is believed that by rising

fuel

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prices

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, nations would be able to reduce the consumption of

fuel

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, which will lower the burden on the world's finite resource of fossil

fuel

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. In

this

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essay, I will outline that increasing

fuel

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price

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prices

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is not the most effective solution in dealing with

this

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global issue and provide the reasons for

this

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.

Firstly

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,

fuel

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is an important source of energy

that is

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widely used in our lives, from individuals (homes) to small businesses to large industries (factories). People need to commute on a daily basis to work, school and other places, and

hence

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need to

use

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some form of transportation to arrive at their destinations.

For example

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, people have to travel to work daily to earn a living and

hence

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would still be prepared to pay a higher

fuel

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price

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to reach their workplaces.

Likewise

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, some businesses and factories utilise

large

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the large

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volume

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volumes

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of

fuel

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for their day-to-day operation,

therefore

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, will still pay a higher

price

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to run their operations effectively.

Secondly

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,

continuous

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a continuous

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rise

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rises

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in

fuel

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prices

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can lead to significant economic problems for nations and societies.

Moreover

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, most nations import

fuel

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and for some,

this

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accounts for a large proportion of their import bill and higher

fuel

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prices

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will adversely

impact

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the foreign reserves of these countries and can lead to

economic

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the economic

an economic

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and financial

crisis

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crises

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.

Consequently

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, the increase in

fuel

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prices

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will

also

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negatively

impact

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the mass population (marginal people) and put them under severe financial burden and stress.

On the other hand

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, through

increase

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an increase

the increase

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in investment and funding by the Governments and individuals in greater

use

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of

alternative

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an alternative

the alternative

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renewable

source

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sources

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of energy,

such

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as building infrastructure (charging stations for electronic vehicles across the countries) for more

use

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of electronic vehicles and providing incentives to individuals to buy these vehicles together with investing in solar solutions to generate electricity, can have a more positive

impact

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on reducing the dependence on fossil

fuel

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. In turn,

this

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will

also

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reduce the harmful effects of fossil

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fuel

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fuels

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on our environment. In conclusion, rising

fuel

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prices

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will result in more negative

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impact

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impacts

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rather than the efficacy of reducing consumption of fossil

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fuel

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fuels

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. If the World and the

Government's

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Government

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are serious about dealing with

this

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issue,

then

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the more effective

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solution

sollution

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solution

would be through the

use

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wide scale

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wide-scale

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use

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of renewable energy in their countries.