There is not an iota of doubt in the fact that fuel price hike affects the household budget of common man thus putting extra burden of maintaining a trade-off between expenses and the necessary needs. As the government has given a nod to another spell of price hike of commercial LPG, domestic natural gas and jet fuel, the merciless move is bound to raise inflation and hit consumers hard.
The sharp and sustained increase in fuel costs is no longer just a concern for economists, it has become a daily struggle for individuals and families, leaving them grappling with the inevitable repercussions. The impact of rising fuel prices is felt in every corner of society.
From the family trying to make ends meet, to the small business owner attempting to keep their enterprise afloat, everyone is feeling the pinch. Commuting to work, essential grocery shopping, and using power consuming gadgets have all become increasingly expensive endeavours, thanks to the dispensation which gradually has turned phlegmatic towards people's needs.
One of the most immediate consequences of escalating fuel costs is the burden it places on household budgets. Families are forced to allocate a more substantial portion of their income to cover fuel expenses, leaving less for other necessities like food, education, and healthcare. This disproportionate financial strain erodes the quality of life for many and widens the gap between the rich and the struggling.
All said and done, the fuel price hike whether LPG (domestic or commercial) petrol or diesel, jet fuel or any other form leads to exacerbating the challenges people are presently confronting. It is essential for the government to take immediate steps to mitigate the effects on citizens but unfortunately the priorities seem to be different as the common man comes last in the list.
Reportedly, public sector oil and gas company Indian Oil Corporation Limited has raised the prices of commercial LPG. The price has been increased by Rs 209 per cylinder, with the new prices coming into effect from Sunday, October 1.
No doubt in the fact that the Union Government had reduced the price of domestic LPG by Rs 200 on August 29, projecting it as a Rakhi gift, but it is difficult to understand that for which festival the helmsmen have punished the people this time as fuel price hike will perpetuate the inflation chain and shall heighten all-round hardship for one and all. This hardhearted change is bound to impact inflation as the impact will simply shift to consumers and if connected with items of necessary consumption, it hurts the pockets of all citizens.
The government at times acted as novice in dealing with such utmost important issues because during elections it never considered the rules set for maintaining prices for fuels as country still remembers months' long hiatus on fuel prices ordered by dispensation giving insulation from rate fluctuations in international market for obvious reasons but otherwise it keeps record of change of every single dime in the aforesaid price hike gamut. This duplicity is difficult to understand as for the incumbent dispensation, the rules are meant for breaking, and masses are there for hoodwinking.
