Petrol Price fallen to Rs.30

New Delhi, May 26: Here is a future prediction for petrol price, which will be reduced to Rs.30 per liter within upcoming 5 years from now, has announced by American futurist Tony Seba Thursday.

Seba said that, The technological advancements will lessen our dependency on petroleum products to fuel vehicles, bringing down the demand for the same.

According to him, our demand for fuel oil will come down with the advent of self-drive cars, increase in public transportation and smarter driving technologies. This could bring down oil prices to even $25 a barrel.

Quite recently, India too began promoting electric vehicles on a war footing, with the goal of no sale of diesel vehicles for the next 15 years.The Union Power Minister Piyush Goyal had recently stated that the government is looking forward to having an all electric car fleet by 2030.

Tony Seba, who came to be known for predicting a decline in solar energy tariffs when they were tenfold what they are today, said this is going to happen to petrol in as little as five years.

"Oil demand will peak 2021-2020 and will go down 100 million barrels, to 70 million barrels within 10 years. And what that means, the new equilibrium price is going to be $25," Seba told media.

He further added, "Imagine a Starbucks on wheels. Essentially transportation is going to be so cheap, it's going to be essentially cheaper for Starbucks to run around and take me to work".