Stomach Burning
It is not a cause of health issues, after hearing the price of domestic gas. According to recent news, the government of India revises the price of cylinders on a monthly basis by +50. Now in Chennai, a single domestic usage cylinder rate is 1118.50 for a 14.2 kg cylinder.
why are gas prices increasing
Domestic LPG prices are directly influenced by crude oil prices in the international market. Increasing crude oil prices and scarcity of oil can make an impact on LPG in the other hand India is a mass consumer of domestic gas so huge dependence on imports for LPG. Prices are based on the FOB(Freight on Board). According to the report of the petroleum planning and analysis cell, the International FOB prices for LPG were $599 a tonne in December and $650 per tonne in January.
*in addition, the Indian government stopped giving LPG subsidies in June 2020
why do crude oil prices increasing
Crude oil needs to be refined before it can be used as gasoline, petrol, or diesel in vehicles. This shortage of refining capacity is also causing crude oil price increases in many parts of the world. It is a global supply and demand, Geopolitical tensions like the Russia-Ukraine conflict, and the other hand world economy can’t be set back because of COVID-19 considering those factors the crude oil price increasing
conclusion:-
The increase in prices has particularly affected the lower-income group such as housemaids, drivers, security guards, daily wagers, salesmen and waiters who earn between Rs 10,000 to 15,000 per month. The cooking fuel bill alone is around 10 per cent of their earnings.
Rising fuel prices impact citizens’ lives because steep fuel prices lead to higher inflation. It affects prices of other essential goods. The value of essential commodities like food , medicines etc have been adversely affected by a rise in fuel prices
So the increase in prices like petrol, diesel, and gas directly affects consumers (people) only. If gas prices increase means hotel food can increase and the cost of making also increases so it’s going to make a deep economy pullback. Now only emerging India faces inflation at the rate of 6.5 %.
IT GOING TO COLLAPSE THE INDIAN ECONOMY ONCE AGAIN!
Sorrowfully here VK
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