Festive shopping? This thing is killing shoppers' buying cheer

India is ever ready to celebrate its vibrant festivals with full gusto. Shopping, of course, is always high on the agenda! But here is bad news! The festive season has begun with Ganesh Chaturthi, however, there is a killer on the loose! It is none other than skyrocketing petrol and diesel prices! This year fuel rates are playing crucial role in the minds of the citizens and are actually stopping them from indulging themselves in a shopping spree as it will hit their pockets to quite an extent. Many more festivals like Navratri, Diwali, Christmas and New Years are in line after this. Looks like the upcoming festivals will see low demand when it comes to shopping or any other buying sentiments of citizens. The sole reason would be petrol and diesel price hike across India. 

Due to petrol and diesel prices, many citizens are now being forced to take measures in order to manage their festival expenses. A LocalCircles survey revealed that, the fuel price hike will mostly hit pockets of the middle-class people. 

For overcoming fuel cost shocks, the citizens will need to scramble and accordingly do their cost cutting to the household expenses in order to adjust the expenses. 

The survey further highlighted that nearly 78% are affected by the petrol price hike and have started to save their money rather than spend it. Not only this, they have even started reducing their discretionary spending like eating out, leisure travel, movies, shopping etc. 

Watch This Zee Business Video

PTI quoted a LocalCircles survey as saying, "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."    

In case you may have neglected to check today, then know that a litre of petrol is priced at 82.06 (from previous day's Rs 81.91) in New Delhi, 83.91 (from previous Rs 83.76) in Kolkata,  Rs 89.44 (from previous Rs 89.29) in  Mumbai, Rs 85.31 (from previous Rs 85.15) in  Chennai.

Whereas a litre of  Diesel is priced at Rs 73.78  (from previous Rs 73.72) in New Delhi, Rs 75.63 (from previous Rs 75.57) in Kolkata, Rs 78.33 (from previous Rs 78.26)  in Mumbai, Rs 78:00 (from previous Rs  77.94) in Chennai.