The alternative fuels are the fuels that are made up without using the oil products. Those are manufactured using the items like corn, garbage and vegetables oil. The business expansion of alternative fuel solutions has greater advantages, and those are having lesser impacts on the environment. People have started taking notice of the global warming. It has sparkled the interests of people into the alternative fuels as the way to help the environment and save our world from getting destroyed. That is the reasons why oil companies and refineries are expanding the alternative fuel options. They must necessary do this to keep up with the interests of the public.
The big automobile companies are too expanding into the market of alternative fuel. These are trying to manufacture the vehicles that can easily run on ethanol, propane, E85 fuel and electricity. In the year 1998, Ford Motor Company has committed the sum of rupees $ 1 billion towards the expansion of production of the alternatives fuel vehicles. The alternative fuels and vehicles expansion has led to the increase in need of new technician training. The expansion in the market has occurred in biodiesel, CNG, ethanol, propane and also in the battery electric power.
Most of the gas station is looking that they require participating in market expansion regarding alternative fuels. Numbers of people are buying alternative fuels vehicle. They are demanding for easy accessibility to fuels that is needed for running them. At the same time price management solutions also matters.
Providers of services of price risks management of fuels-
The price risk management services of fuel are primarily provided by the specialist teams. These are the trading and utility companies, oil companies, management companies and financial companies. They are establishing the context, doing risks treatment and also assessing risks. Finally, they monitor and make a report. This cycle goes continuously.