Successive petrol, diesel price hikes trigger concern in Kerala trade and industry circles
The recent increase in fuel prices in Kerala has raised concerns among trade and industry sectors. This marks the fourth hike in just ten days, compounding existing challenges from a significant rise in cooking gas prices. Various sectors, including hotels and construction, are bracing for further price increases on essential commodities.
- ▪State-owned oil companies have raised fuel prices for the fourth time in ten days.
- ▪The price of commercial cooking gas cylinders increased by ₹993 last month.
- ▪Market vendors are worried that rising transport costs will lead to higher prices for essential goods.
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Trade and industry are bracing for tough times ahead, as the decision of State-owned oil companies to raise fuel prices for the fourth time in 10 days on Monday threatens an overall increase in the prices of essential commodities.It has proved a double whammy for sectors such as hotels and construction, which were already reeling under an exorbitant hike of ₹993 in the price of commercial cooking gas cylinders that came into effect towards the end of last month. The successive fuel price hikes have impacted other sectors as well.
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