LPG price update: Cost of cooking gas may double from next month
The effects of a global gas crunch and other factors could soon show up on domestic gas prices in India.
Rising inflation could yet again make a big hole in the pockets of Indian consumers. With petrol and diesel prices already hurting budgets, cooking gas could soon add to the plight of Indian households. Cooked food may become more expensive from April due to the ongoing global gas crunch.
The effects of this global gas crunch could soon show up on domestic gas prices in India, which may end up doubling from April, as per a report by Zee News Hindi.
Global gas crunch
With the global crunch, prices of CNG, PNG and electricity are likely to increase. This will also result in a surge in the cost of transport and operational expenses of industries. The government’s Fertilizer Subsidy Bill could also see a hike. Consumers could face the direct impact of all these factors.
Supply unable to meet demand
Russia is the major supplier of gas across Europe through its transcontinental pipelines. The Ukraine crisis could end up disrupting the supply. While the global economy is gradually overcoming the effects of the Covid-19 pandemic, the rising energy demands across the world could end up destabilising the growth.