New Delhi, Mar 30 (KNN) As India saw the 7th hike in fuel prices in last eight days, its impact is likely to be felt by Micro, Small and Medium Enterprises (MSMEs) manufacturing petroleum based products.

The total hike has reached Rs 4.80 as petrol prices climbed up by 80 paise per litre on Tuesday.

Animesh Saxena, Past President of FISME and Managing Director of Neetee Clothings Pvt Ltd. based in Gurugram told KNN that fuel prices have already started impacting the raw material prices especially the petroleum based products which are manufactured by MSMEs.

He signalled that the industry must be prepared as the logistics costs is expected to shoot up.

Speaking with KNN Rakesh Chhabra, Managing Partner, Sonipat based Choudhary Enterprises said that the increase in fuel prices impacts everyone as the cost of logistics is bound to increase.

“The factories running with boilers or the industries using petro products as fuel will be directly affected,” he added.

Although international crude prices are increasing and the prices of these commodities have already increased but in India the cost of Petrochemicals/ pvc materials will now gradually see an impact with rising fuel prices, said Chhabra.

Petrol and diesel prices in Delhi rose to Rs 100.21 per litre and Rs 91.47 per litre  while in Mumbai, petrol price stood at Rs 115.04 per litre, whereas the cost for diesel rose to Rs 99.25 per litre.   (KNN/KJ)