Nearly eight in ten Indian households are likely to cut non-essential travel if petrol prices rise, while half may reduce cooking gas usage, according to a survey by community platform LocalCircles, highlighting growing consumer anxiety over possible fuel price increases.
The survey, released this week, comes amid concerns that escalating tensions in West Asia and higher commercial LPG prices could eventually lead to an increase in retail petrol, diesel and domestic LPG prices in India.
India imports more than 80 per cent of its crude oil requirements, making it vulnerable to supply disruptions and higher freight and insurance costs linked to conflict in the region, LocalCircles said in its report.
The survey, conducted between April 1 and May 4, received over 43,000 responses from households across 333 districts. About 41 per cent of respondents were from tier-1 cities, while 59 per cent came from tier-2 to tier-5 districts.
According to the findings, 78 per cent of respondents said they would reduce non-essential travel to cope with rising petrol prices. Around 35 per cent said they would shift to public transport such as buses, metros and trains, while 15 per cent indicated they would increasingly use carpooling or ride-sharing services.
The report also found that 20 per cent of respondents would consider purchasing electric vehicles in the future if fuel prices rise sharply.
On cooking fuel, nearly 48 per cent of surveyed households said they planned to partially shift to alternatives such as electric stoves, induction cooktops or piped natural gas where available. Another 40 per cent said they would reduce the frequency of LPG usage to manage costs.
The findings reflect increasing concern among consumers after commercial LPG cylinder prices rose sharply earlier this month. LocalCircles noted that the price of a 19-kg commercial LPG cylinder had increased by around Rs 993, pushing prices above Rs 3,000 in Delhi.
The survey said analysts were expecting a possible petrol and diesel price correction of Rs 4 to Rs 10 per litre after years of largely stable retail prices. However, the federal government has denied any immediate proposal to raise fuel prices.
LocalCircles warned that higher fuel prices could have a cascading impact on household budgets by increasing transportation and food costs. Restaurants and small businesses may raise prices by 10-15 per cent to offset higher commercial LPG expenses, it added.
The platform said it would share the survey findings with government stakeholders to highlight the potential impact of fuel price increases on household finances. |
