Open AccessIMPACT OF PETROL PRICES ON CONSUMER CONSUMPTION DURING COVID-19
Publication year - 2021
Publication title -
international journal for innovative engineering and management research
Language(s) - English
Resource type - Journals
ISSN - 2456-5083
DOI - 10.48047/ijiemr/v10/i09/12
Subject(s) - gasoline , consumption (sociology) , covid-19 , affect (linguistics) , business , agricultural economics , consumer spending , economics , engineering , waste management , psychology , medicine , social science , disease , communication , pathology , recession , sociology , infectious disease (medical specialty) , keynesian economics
In present scenario petrol has become an indispensable part of our day to day life, and one cannotimagine his life without it. But the petrol prices are increasing vastly like sky rocketing, and it isgoing to affect each and everything in our life .Petrol prices are affecting various sectors liketransportation,FMCG, Textiles etc, which in turn affects the prices of daily necessities. Increasein petrol price have more impact on poor and middle class people rather than high class peoplebecause they spend more than half of their income on food and only tenth part on fuelconsumption. Hence it is important to study the impact of petrol prices on consumption of petrolby middle and poor class people. This study mainly emphasis on how the hike of petrol priceswill affect the consumption of petrol by different kind of consumers during covid-19.