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Fuel price hike likely to burn a hole in pockets of consumers in Odisha

Bhubaneswar: The prices of petrol and diesel have witnessed a continuous increase for the last 19 days. The fuel price rise is likely to burn a hole in the pockets of consumers as it threatens to push the cost of essential commodities.

Food and Civil Supplies Minister, Ranendra Pratap Swain on Thursday admitted that the impact of fuel price hike has been on essential commodities. However, there is no shortage of commodities in the state as on today, he added.

“The department is aware of the situation. Due to rise in petrol and diesel prices, the cost of essential commodities may go up due to increase in transportation cost. This may have a cascading effect and we are closely monitoring the developments,” said Swain.

Odisha Traders’ Association Secretary Sudhakar Panda said the rising trend of fuel prices is not a healthy sign as the direct impact will be on the prices of essential commodities.

“Already there is impact on the prices of essential commodities and if petrol and diesel prices continue to rise, the overall situation is likely to worsen further,” said Panda.

Panda further informed that the overall sales and revenue from petrol and diesel saw a sharp decline by nearly 50 % due to COVID-19 lockdown. Prices are now being hiked to compensate for the losses, Panda added.

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