The fuel prices are really going to scorch the car owners. Taking car leisurely for a long drive will be a costly affair. The uncontrolled international rise in oil price to 135 dollars a barrel has put pressure on the government to think of raising the fuel price. Earlier, the hike of Rs 10 for petrol and Rs 5 for diesel was set, but now it seems that was too low.
The petrol prices are likely to go up by Rs 16-Rs 17 per liter. Diesel will continue to sell under controlled price. With this huge hike, people will opt for fuel efficient small cars rather than going for large SUVs. Public transport will be another option for travellers.
If government lifts all the control on petrol/diesel, the global market forces will decide the fate of Indian car drivers. Government should keep a check on them and see to it that Indian consumers are not not affected. C'mon Indians are already paying one of the highest rates in the world.
The petrol hike pressure is will be a great hit initially to every one but this is not going to stop the buyers from owning the car.It is the middle class that will feel the pinch and they may think twice before buying a vehicle.
This time the petrol price have gone too high that is normal petrol will cost Rs.59 per liter. recently the car prices were hiked and now with the fuel prices going high will definitely affect the car sales.
The rise in petrol price was inevitable. This was slated to happen But government should keep the controls in place and not expose the people to international price variations.
The Indian economy is booming and the first thing that people want to own in India is a car. The car is still a status symbol. High petrol price of not nobody is bothered. Look at the sales graph. The car companies are selling more cars than ever before.
The hike will not have any impact.