Petrol, Diesel Prices May Rise in November: Oxford Economics Forecast
Petrol-Diesel Price Hike: The central government may increase petrol and diesel prices in November. This move could come before the upcoming assembly elections, which is expected to increase inflation and directly impact the general public.
A surprise may well be in store for the common citizen before Diwali. Oxford Economics’ lead economist has forecasted that there might be a slight hike in the cost of petrol and diesel by the central government in November.
According to Alexandra Harman Prasad, lead economist at Oxford Economics, a rise in prices in November would mean that the rise in prices will amount to half of the 7.5 percent rise in prices in May when there was a US-Iran war going on.
In its report, Oxford Economics has identified the states where elections are to take place next year, which include Goa, Uttarakhand, Punjab, Manipur, Uttar Pradesh (UP elections 2027), Himachal Pradesh, and Gujarat, where the government can take such a step before starting its election campaign.
