Fuel prices soar up again to highest-ever levels in India where the oil marketing companies on Saturday do a fuel hike on prices of petrol and diesel.
In Delhi, the national capital, the petrol and diesel prices were increased by 35 paise each. This was the third day when the fuel hike started again after a pause of two days on October 12 and 13, 2021.
Post-hike, petrol in Delhi was available at Rs 105.49 per litre while diesel at Rs 94.22 per litre. In Kolkata, a litre of petrol costs Rs 106.10 while diesel Rs 97.33. In Mumbai, a litre of petrol costs Rs 111.43 while diesel Rs 102.15. One litre of petrol was available at Rs 102.80 and diesel at Rs 98.69 in Chennai.
Fuel prices are skyrocketing day by day and it has a cascading effect on the daily life of the common citizen impacting the poor and middle section drastically and will be burdening daily living.
This, directly and indirectly, hits every sector of the economy. The impact is severe and a major part of their income is absorbed due to inflation. Starting from the transportation cost, price of goods to groceries these price hikes are digging a hole into the pockets of people.
The poor man is now pulled below the poverty line while the middle class is also squeezed dry as prices on every item rise high. The business class transfers their burden to the common citizen and the chain reactions widen and the fuel rise just keeps going round in circles with no consensus to ease the struggling citizens.