New Delhi: The price of fuel hits the highest recording has become a cause of concern since the last few months, so much so that it is now eating into the essential consumption expenditure of lay people, said a report by economic research Bank Negara (SBI) team.
The report noted that the surge in gasoline and diesel prices made people spend less on other non-discretion items such as food, health and utilities, so that they packed their requests.
Gasoline has passed the RS-100-a-liter sign in more than one half a dozen states and the United States (UTS), while Diesel is being sold with more than Rs 100 liters in Rajasthan and Odisha.
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Explained: why the government needs to cut fuel prices
