Why is everyone creating such a big hue and cry over oil prices? After all, it is a precious commodity, with finite supply (as determined by known oil reserves) and steadily rising demand. So rise in prices is inevitable. If you look at inflation-adjuested price of oil vis-a-vis other precious commodities like gold, you will realise that crude prices still have some way to go!! It is better if government raises petrol prices to market-determines rates...maybe that might be one way to cut down on wasteful demand and maybe people will start using more public transport and less gas-guzzlers like SUVs and luxury sedans.
