Dual income households too, are struggling to make ends meet, having to curtail luxuries and making almost no savings.
For 15-year-old married couple Murli and Smita Nair, the rise in prices means a sea change in their lifestyle.
Murli said, "In the past three or four months, prices have increased by leaps and bounds.
Many citizens complain that they have stopped using their vehicles
in favour of public transport, because of the shooting prices of petrol
It is affecting us, even though both of us earn and have only one child, a daughter.
We have stopped going out as often, and try to stay away from restaurants as far as possible. We have almost no savings. The rich are becoming richer, and the poor are becoming poorer."
Until recently, Vidhi Taneja used to home deliver cakes that she baked, as an additional source of income. But the petrol price hike has brought that practice to a screeching halt.
Vidhi Taneja with her kids
She said, "With petrol prices increasing often, I have stopped delivering cakes. Instead, my customers have to come over to my place and pick up the cakes themselves.
Our kids used to go to school via auto rickshaws, but now they have switched over to school buses, as the latter costs only Rs 1,500 per month, while rickshaw rides cost a total Rs 4,000 every month," said Taneja.
Bhandup resident Shanthala Hiremath said, "My husband works with a private company and I offer private tuitions at our place. Before we spend anything, we have to think long and hard.
Bandra couple Payal and Kewal Talwar
Education expenses are also rising. We have to give our children pocket money, pay for their tuitions and other daily expenses. This has made us cut down on our own wants."
For Bandra couple Payal and Kewal Talwar, the hike in petrol prices means a drastic change in lifestyle.
"Both of us have to work to meet our expenses, because the hike in petrol prices affects everything, from our food prices to our shopping pattern.
Shanthala Hiremath with her husband at their Bhandup home
We prefer going to less expensive theatres to catch films nowadays," said Keval Talwar.