essay on high fuel price
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Answer:
Petrol has become an indispensable part of our day-to-day life, and we can’t imagine our life without it. But the petrol prices are sky rocketing, and it is eventually going to affect each and everything that we use in our day to day life. Poor people are already working hard to earn square meal a day and this hike is definitely going to paralyze these already-burdened people. Within three years petrol price has increased 10 times and is still increasing. It is nothing but adding fuel to the fire. Petrol hike directly or indirectly affects all the major sectors like transportation, textiles, auto, FMCG etc, for manufacturing & transportation. This affects the prices of daily essential commodities which are transported on a daily basis. Banking sector is also expected to suffer due to high inflation level.
Increase in fuel price will also increase in food price. This will have a more severe impact on poor people because poor households spend more than half of their income on food and only a tenth on fuel. It is a chain reaction once started will affect all. Increase in petrol price will increase the transportation cost, increase in transportation cost will increase in price of goods, and this increase in price of goods would gradually force the people to loosen their pockets even more, and so on like this, the chain will further propagate. These ups and downs push more people into poverty and leading to a more pathetic situation of those already poor. This has obviously sent shock waves to the common man who is trying hard to make both ends meet. Price hike affects only the low wages or fixed salaried middle class families as compared to higher wages salaried class.