The price of crude oil is once again making headlines—hovering above $85 a barrel and rising. For Indian households, this isn’t just international news—it directly affects your monthly budget. From your daily commute to your vegetable bill, everything feels the heat.
Let’s break down how rising crude oil prices affect your finances and what you can do to stay financially strong with Vizzve by your side.
💸 How Do Crude Oil Prices Affect You?
Here’s how the rise in oil prices shows up in your everyday expenses:
1. Fuel Prices Go Up
As crude oil prices surge globally, petrol and diesel prices often follow. If you’re spending ₹5,000/month on fuel, even a ₹5/litre rise can cost you ₹500 extra each month.
2. Transport & Delivery Costs Rise
Public transport fares, cab services, and delivery charges can increase as operators adjust for rising fuel costs. Online shopping or Swiggy/Zomato bills? Expect a few rupees more each time.
3. Inflation in Essentials
Fruits, vegetables, dairy, and packaged goods are all transported using fuel. Rising logistics costs = higher prices in kirana stores and supermarkets.
4. EMI Pressure
With inflation triggered by fuel hikes, the RBI may respond by tweaking interest rates. That can impact your home loan, personal loan, and car loan EMIs.
🧠 Smart Budgeting Tips from Vizzve Finance
Rising prices need not crash your lifestyle. With Vizzve, here’s how to adjust:
✅ 1. Recalculate Your Monthly Budget
Revisit your fuel, food, and entertainment expenses. Use Vizzve’s Smart Budget Tracker to visualize where your money is leaking.
✅ 2. Start a Fuel Emergency Fund
Just like medical emergencies, create a buffer of ₹3,000–₹5,000 in your Vizzve Fuel Fund. It’ll help during sudden hikes.
✅ 3. Cut Unnecessary Commute
Carpool, use metro/bus apps, or cycle short distances. Save on both fuel and stress.
✅ 4. Bulk Buy Essentials
Buy non-perishables in bulk to reduce frequent travel and benefit from wholesale prices.
✅ 5. Track Fuel Trends with Vizzve Alerts
Enable Vizzve fuel price alerts to get daily price updates and plan smartly—especially for long drives or intercity travel.
🙋 FAQs
Q1: Why does crude oil price affect India so much?
India imports over 80% of its crude oil, so global prices directly impact domestic costs.
Q2: Will LPG prices also rise?
Yes. Rising crude often leads to increased LPG cylinder prices, affecting kitchen budgets.
Q3: Can Vizzve help manage these rising costs?
Absolutely! Vizzve’s budgeting tools, emergency fund plans, and daily alerts help you stay one step ahead of inflation.
Conclusion
Rising crude oil prices are a reality. But your finances don’t have to suffer. With smart planning, timely alerts, and Vizzve by your side, you can absorb the impact and continue living stress-free.
Published on : 11th July
Published by : SMITA
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