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  Business   In Other News  17 Sep 2018  Soaring petrol prices hit pre-festive buying: survey

Soaring petrol prices hit pre-festive buying: survey

PTI
Published : Sep 17, 2018, 1:36 pm IST
Updated : Sep 17, 2018, 1:36 pm IST

78 per cent households have plans to reduce or have already reduced their discretionary spending.

Roof-touching fuel prices have put a dent in the pre-festive season spirit.
 Roof-touching fuel prices have put a dent in the pre-festive season spirit.

New Delhi: Ahead of the festive season, the surge in petrol rates has left consumers scrambling and cutting household expenses to adjust with the price hike, a survey said.

"The festive season is nearing. Everyone wants to spend on gifts and do those much-awaited upgrades of the home appliances. But the roof-touching fuel prices have put a dent in the pre-festive season spirit," citizen engagement platform LocalCircles said in its latest survey.

"It is a big burden on the middle-class Indians and many of them are scrambling and cutting household expenses to adjust with the rising fuel prices," it said.

78 per cent households have plans to reduce or have already reduced their discretionary spending like eating out, leisure travel, movies, shopping etc, the survey said.

The rest said that they will restrict their expenses by spending only on purchase of the basic items.

Tags: fuel prices, festive season
Location: India, Delhi, New Delhi