Fuel Price Impact: Daily use items likely to get costlier by 5-8%

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Fuel Price Impact: Daily use items likely to get costlier by 5-8%
Fuel Price Impact: Daily use items likely to get costlier by 5-8%

New Delhi : In recent days fuel prices have touched new peaks but that is not the only thing to worry about, with increasing prices it is likely that daily use items like soaps, shampoos and others are likely to get costlier too by at least 5-8%.

According to a report by Economic Times, some companies have already increased the prices of their products according to the spiking prices of Petrol and Diesel to cope up with their transportation cost.

The hike in minimum support price (MSP) for farmers, and upwards movement in commodity prices will also lead to revision in MRP of some products, the report mentioned.

"The environment is inflationary, and it is not possible to hold on to prices going forward. We will have to increase prices by 5% to begin with, to offset multiple pressures... we will try to balance value and volume growth," Varun Berry, managing director of Britannia Industries told the daily.

On Friday, Petrol prices were at a record high. In Delhi it was being retailed at Rs 79.99 per litre. The value of Indian Rupee has also worsened against the Dollar.