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Fuel Hikes Force Indians to Cut Travel, Spending
25 May
Summary
- Fuel prices rose significantly, impacting transportation and service costs.
- Seven in ten consumers will reduce non-essential travel due to hikes.
- Over 41,000 responses collected from consumers across India.
Fuel prices have seen a notable increase, with petrol and diesel costs rising by ₹2.61 and ₹2.71 per litre respectively on a recent Sunday. This marks the fourth revision in less than two weeks, pushing regular petrol prices in Delhi above ₹100 per litre. These cumulative hikes since May 15 have driven up global crude oil prices, impacting household budgets.
A survey revealed that 55% of Indian consumers reported higher transportation costs, with similar increases noted for products and services. Consequently, 71% of respondents intend to reduce non-essential travel. Many are also looking to combine trips, use public transport, or cut spending in other areas to cope with escalating fuel expenses.
