Question

"impact of rise in petrol in our society"write essay of 180 words​

Answer 1

Explanation:

The rising prices of petrol and diesel increase the burden on citizens, affecting to some extent the government’s popularity. It also quite often brings into question the government’s policy when it comes to taxing basic fuels. More than half of the money that is paid by the consumer goes to the government in the form of taxes. Some have speculated that the government might compromise on its fuel deregulation policy, which allows oil marketing companies (OMCs) to price their output freely.

Not surprisingly, the shares of the government-owned OMCs have witnessed a sharp fall in recent weeks. The current price rise will thus act as a litmus test for the government’s commitment to reforms in the energy sector. Further, to the extent rising fuel prices have to do with the decreasing supply in the world market, it has a negative impact on economic growth.

Answer 2

banking sector is also expected to suffer due the high inflation level . increase in fuel price. will also increase in food price . this will have more serve impact on poor people because poor houseold spend more than half of there income so food is only tenth on fuel.