With petrol prices touching around Rs 100 and diesel up to nearly Rs 90, Indians are dipping into savings or cutting down on expenses to meet their fuel need, says LocalCircles survey.
Before 2014, fuel price hike used to outrage the public. Today, nobody seems to care. The difference tells you a lot about what appears to be ‘public opinion’.
Indian LPG consumption in 2020 was at 27.41 million tonnes, 4.3% higher than a year earlier, while petrol demand in the same period plunged 9.3% to 27.27 million tonnes.
Demand for total petroleum products — including diesel, gasoline and jet fuel — slid 10.8% from a year earlier, the first annual contraction in data going back to 1999.
Petrol price on Saturday was hiked by 24 paise per litre and diesel by 27 paise as hopes of a Covid vaccine development led to a rally in international oil prices.
While diesel consumption is lagging, petrol sales in September rose for the first time since February on a year-on-year basis as more people opted for own vehicles to commute.
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DO NOT KNOW HOW MANY PEOPLE WILL EAT LESS ONIONS AND BY MORE FUEL.
For some reason the higher fuel prices do not seem to gain significant political traction.
Is it not because both the center and states need the additional revenue and the people are not complaining because there is no run away inflation.
There is no dearth of the theory hunters.
DO NOT KNOW HOW MANY PEOPLE WILL EAT LESS ONIONS AND BY MORE FUEL.
For some reason the higher fuel prices do not seem to gain significant political traction.
Is it not because both the center and states need the additional revenue and the people are not complaining because there is no run away inflation.
There is no dearth of the theory hunters.