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The recent rise in petrol and diesel prices is beginning to affect daily expenses (Img: Internet)
New Delhi: The recent rise in petrol and diesel prices is beginning to affect daily expenses across India, with transportation, food delivery, groceries and logistics costs witnessing growing pressure. Fuel prices have now increased by around Rs 7.5 per litre within less than two weeks, triggering concerns over inflation and household budgets.
On Monday, petrol prices were raised by Rs 2.61 per litre while diesel became costlier by Rs 2.71 per litre. This marked the fourth increase in fuel prices since May 15. In Delhi-NCR, CNG prices have also been increased by Rs 2 per kilogram, adding to commuter expenses.
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The latest revisions come amid continued tensions in the Middle East, which have disrupted global crude oil supply chains and pushed international oil prices higher.
The transport sector is among the first to feel the impact of rising fuel prices. Increased diesel rates are pushing up operating costs for truck operators, taxi services and logistics companies.
Industry representatives say fuel contributes a major share of transport expenses, alongside tolls, maintenance, tyres and insurance costs. As freight charges rise, the cost of moving goods across the country is also increasing.
Several transport operators have warned that delivery schedules and supply chain efficiency may suffer if fuel prices remain elevated for a longer period.
The fuel price hike is expected to affect household spending patterns as transportation costs influence the prices of essential goods and services.
Consumers may soon witness higher prices for groceries, food delivery, packaged goods and dining services. Experts believe companies in the fast-moving consumer goods sector could consider selective price hikes or reduce product quantities to manage rising operational costs.
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Higher logistics expenses are also adding pressure on manufacturers and retailers already dealing with inflationary trends.
Despite concerns over inflation, Finance Minister Nirmala Sitharaman said India’s economy remains resilient despite external challenges. Meanwhile, shares of major oil marketing companies such as IOC, BPCL and HPCL rose sharply on Monday after fuel price revisions and easing crude oil prices in the global market.
Analysts say the government faces a difficult balance between protecting consumers from inflation and maintaining the financial stability of oil companies dealing with rising crude import costs.
