MONEY
Cutting down on travel, spends? You are not alone.
The fuel price hike has hit home for many Indians. With the 4th hike in 10 days, the total increase comes to ₹7.5/litre.
The impact is not just in your fuel tank but also for many products and services. The cost of travel, transportation, food and essential goods are rising.
As per a survey by LocalCircles, many Indians are now cutting back on non-essential travel and even on other spends.
How are Indians coping?
- •7 in 10 consumers surveyed by LocalCircles say they will reduce non-essential travel and outings due to rising petrol/diesel prices.
- •5 in 10 people surveyed said they are feeling the price hike not just in their fuel tank but also for many products and services.
- •29% say they will shift to lower-cost transport options (vehicle pooling, public transport, bike, cheaper app-based service, etc.).
- •29% also said that they will “reduce spending in other household areas to manage fuel expenses.”
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