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

of oil (

fuel

).

Furthermore

, it is believed that by rising

fuel

prices

, nations would be able to reduce the consumption of

fuel

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

fuel

. In

this

essay, I will outline that increasing

fuel

price

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prices

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is not the most effective solution in dealing with

this

global issue and provide the reasons for

this

.

Firstly

,

fuel

is an important source of energy

that is

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

need to

use

some form of transportation to arrive at their destinations.

For example

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

hence

would still be prepared to pay a higher

fuel

price

to reach their workplaces.

Likewise

, 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

for their day-to-day operation,

therefore

, will still pay a higher

price

to run their operations effectively.

Secondly

,

continuous

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a continuous

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rise

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rises

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in

fuel

prices

can lead to significant economic problems for nations and societies.

Moreover

, most nations import

fuel

and for some,

this

accounts for a large proportion of their import bill and higher

fuel

prices

will adversely

impact

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

, the increase in

fuel

prices

will

also

negatively

impact

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

On the other hand

, 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

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

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

use

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

on reducing the dependence on fossil

fuel

. In turn,

this

will

also

reduce the harmful effects of fossil

fuel

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fuels

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on our environment. In conclusion, rising

fuel

prices

will result in more negative

impact

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impacts

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rather than the efficacy of reducing consumption of fossil

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

issue,

then

the more effective

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solution

sollution

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solution

would be through the

use

wide scale

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wide-scale

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use

of renewable energy in their countries.