Rising fuel prices have become a major economic concern in recent years, particularly in developing countries like India where fuel plays a crucial role in transportation, production, and daily life. The continuous increase in petrol and diesel prices has significantly affected the financial stability of individuals by increasing the cost of living and reducing purchasing power. This study aims to analyse the financial impact of rising fuel prices on the public, with a focus on household expenditure, savings, and consumption behaviour. The research is based on primary data collected from 100 respondents using a structured questionnaire. The study uses statistical tools such as percentage analysis, correlation, and chi-square test to interpret the data. The findings reveal that a majority of respondents are from the working and middle-income group, who are most affected by rising fuel prices. It was observed that increased fuel costs have led to higher transportation expenses, reduction in savings, and changes in spending patterns. Furthermore, respondents have adopted various strategies such as reducing travel, using public transport, and cutting down on non-essential expenses to manage rising fuel costs. The study concludes that rising fuel prices have a moderate to significant financial impact on individuals and highlights the need for better financial planning and efficient fuel usage to reduce the burden.
Deshmukh et al. (Thu,) studied this question.