Petrol/Diesel prices are going up! Here’s what you should know.

On Sunday, petrol prices were risen to the highest at Indian Oil Corporation.
Petrol was sold for Rs 84.07 per litre in Mumbai, Rs 79.13 in Chennai and Rs 78.91 in Kolkata.

To put it simply, common people are shedding tears and weeping over the senseless petrol prices!

The way petrol prices are increasing, it shall eventually be cheaper to just hire people to push your car.

For the last few months, diesel prices too have been reaching new benchmarks every few days. On Sunday, diesel was sold for Rs 67.57 per litre in Delhi, Rs 70.12 in Kolkata, Rs 71.94 in Mumbai and Rs 71.32 in Chennai. 

Even though slight price increase is okay for a common man, the price hike this time is far tougher to accept. The common man has to pay a very high price at the pump which affects his normal lifestyle. He may have to make a choice between convenience and economy.

Here’s how it affects the Producer, Consumer, and mainly the Transporter.

As the cost of fuel rises, carriers are forced to raise prices or take losses. In turn, the cost of fuel does not only affect the transportation company, but also the shipper and the consumer as well. If it costs more for the carrier to transport the goods, the shipper is going to be charged more to make up for this. If the shipper is going to be charged more to transport the goods, the receiver is going to be charged more to make up for their added costs. This means the products are going to be sold to consumers at higher costs to make up for the higher transportation and fuel costs. Basically, higher fuel costs cause product inflation and affect every aspect of production transportation along the way.

Consequently, on the other hand, this would certainly decrease reduce consumption. And hence the pollution caused due to vehicle traffic. This is something on which we can have a good laugh.

Altogether, it will be interesting to see how the oil prices shape up common man’s lifestyle and how our government responds to it.

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