New Delhi: The sudden slump in rupee is soon going to have serious repercussions on the common man. It is expected to have a spiraling effect on many of the household products. Prices of petrol, TV, Fridge and vehicles are going to increase. Petrol price hike is likely to be announced in next few days.

According to sources from oil companies, there is a chance of at least Rs 1.5 per litre increase in the petrol prices. Though crude oil prices in international market have remained stable in last 15 days, the drastic rupee fall has incurred losses on petrol. As per the oil companies, with every fall of Re 1 against dollar, the annual input cost for petroleum products goes up by Rs 9,000 crore.

In the last 20 days, the rupee has slipped from the level of 54 to 58. Oil companies are under the risk of selling petroleum products at lesser prices. Because of this, the under recovery on petroleum products has already gone up by Rs 36,000 crore.

Another product which can be directly impacted by rupee fall is automobiles. Especially the imported cars and the cars whose spare parts are imported from other countries are going to take a hit. SIAM director general Vishnu Mathur says that the auto companies were already going through tough times and with the fall in rupee, the situation has further worsened. Most of the companies will have to think about hiking car prices to come out of situation.

Prices of cars which are fitted with imported parts like Honda, Hyundai, Toyota, Audi, Mercedes, General Motors and Ford are expected to be hiked. CF0 Hyundai R Sethuraman has also accepted that the rupee fall will have negative effect on the demand.

Similarly the input cost of TV, fridge and washing machine is on the rise with the rupee fall. It is a cause of worry for the industry as it is also witnessing testing times. Prices of these items were also increased last year. Sony, Samsung, Haier and other consumer-durable companies may hike prices of its products in the coming days.


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