Your travel cost is going to increase as the Centre has increased the prices of petrol, diesel, and CNG. The Centre has increased the prices of petrol and diesel by Rs. 3 per litre, whereas CNG has also seen a price hike of Rs. 2 per kilogram.
A few days before, Prime Minister Narendra Modi addressed the nation, suggesting that people reduce commuting as much as possible and adopt the work-from-home culture. After that, the price hike news became the talk of the town. As per information, this decision has been taken due to the West Asia crisis, as the war between Iran and Israel continues to intensify, and no global leader can say for certain when it will end.
After the price hike, in Delhi, the petrol price will rise by Rs. 3.14 to ₹97.77, whereas diesel has become costlier by Rs. 3.11 per litre.
In Ahmedabad, the petrol price stood at ₹97.49 after a hike of Rs. 3.20, while diesel is priced at ₹93.26 after a Rs. 3.31 increase.
Not only that, CNG has also seen a price rise of Rs. 2 per kilogram, and after the hike, the CNG rate in Delhi is ₹79.09.
This sharp hike in fuel and CNG is expected to further intensify inflationary pressure across the country, which will directly impact common household budgets and also increase the cost of living.
Due to the price hike, transportation and logistics costs will also rise. Notably, the middle class in the country is already affected by inflation, and now this price hike may increase the cost of day-to-day goods such as vegetables, food grains, medicines, and milk. Just a day before, the popular milk brand Amul also increased milk prices by Rs. 2 per litre.
This situation will have a major impact on middle-class and lower-middle-class income groups, as businesses may pass the extra burden of logistics costs on to consumers. As per experts, this could trigger a wider inflationary ripple effect across the economy.
Also Read: Excise Duty For Petrol And Diesel Slashed, Will Prices Fall? https://www.vibesofindia.com/excise-duty-for-petrol-and-diesel-slashed-will-prices-fall/
