Taxes on diesel have grown by a whopping 386%, and on petrol by 127%, in past 3 years. Better roads, traffic handlig and public transport can actually save fuel and bring down prices. Also, alternative sources of energy should be seriously taken up. Against: No! India lacks enough oil resources. The big story in the financial markets in 2018 has been the sharp rise in oil prices, which last week hit $80 a barrel for the first time in four years. But if oil analysts are right and the cost of crude is set to carry on rising, hitting $100 a barrel over the coming months, Back at the pump in the US, the falling oil prices are cause for celebration, though. This week, the average retail price of gasoline fell 0.9 cents a gallon to $3.177—the lowest since February 2011--according to AAA. Overall, gas prices have fallen more than 50 cents this year.