How countries are dealing with high oil price.

[Oluwa-btc]

You just spoke about almost the same thing that is happening in my country. The government has not come up with any programme to alleviate the suffering of the masses. Petrol price has increased and other commodities have also gone up.

Next year is an election, so they are busy strategising on means to grab power. We are hoping to see them make policies that will help reduce the effects of this war.  

Just the exact government the colonial masters wants so they can loot all the necessary resources meant for the average Nigerian. All they keep doing is saying yes to deals from IMF which has not in anyway supported us in Nigeria. Food prices are going to hit a new height before the ending of this month, and the government has literally done nothing to regulate the prices of oil and food. We should boycott the elections and the speculated protest should target INEC offices and airports. This way no such elections would hold.

[letteredhub]

The only solution to this oil crisis to stop, when ever big players in the world oil and gas sector have crisis like this is so countries to have their oil refined in their homeland, especially the countries which are oil producers. Because if a country can produce their oil by themselves I don't think that the effects will be much stronger like this. Even though the raw oil will be imported it will be better to refine locally.

Countries that ain't oil producing countries as OPEC nations can't produce oil even if they have dozens of refineries, they can only refine and not produce because naturally they don't have it as a resource. They may make large reserves in cushioning for scenarios of this kind of oil crisis we have right now as caused by Trump's starting of a war against other nation aside with Israel. Maybe this should serve as a lesson to other nations about the necessity to create large oil reserves to sustain their citizens in periods of months of oil crisis.

[Iranus]

Unfortunately, the current government in my country is not highly focused on coming up with best solutions to combat the rising price of oil, but everyone is busy preparing for their political moves just to prevent someone from becoming a new leader in my country.

Obviously, this does not help at all. While other countries are into solving the problem and providing assistance to their citizens, my country is up with impeachment, leaving the citizens struggling to survive from the crisis on their own.

You just spoke about almost the same thing that is happening in my country. The government has not come up with any programme to alleviate the suffering of the masses. Petrol price has increased and other commodities have also gone up.

Next year is an election, so they are busy strategising on means to grab power. We are hoping to see them make policies that will help reduce the effects of this war.  

The war has entered its 37th day, and oil price have nearly doubled compared to before the conflict broke out. It can be said that it has a very negative impact on the economy. I believe that all government have activated response measures and support package to alleviate pressure on the economy. If they had not intervened, thing would have been much worse than what we are experiencing now.

However, there will be differences between countries because each government has different capabilities. Perhap your country does not have a large budget or reserves, so the support will be limited and not felt very clearly. It is not that they did not intervene and provide support.

Government resources are limited, and we are facing a serious crisis. Do not demand that everything be the same as before, even with government support.