LPG Price Update: Amidst the fears of increasing war between Russia-Ukraine, now the effect on domestic gas prices can also be seen. Gas prices may double from April. Supply constraints and global gas shortage are likely to raise prices.
LPG Price Update: Common consumers may once again have to bear the brunt of rising inflation. Its effect can be seen on the pockets of the consumers of LPG. The increased prices of petrol and diesel are already affecting your household budget. Cooked food may become more expensive from April due to global gas shortage.
According to a report in Zee News Hindi, the impact of this global gas crisis may soon be visible on domestic gas prices in India, which may double from April.
Global gas crisis
With the global crisis, the prices of CNG, PNG and electricity are likely to rise. This will also increase the cost of transportation and operating expenses of the industries. Consumers may face the direct impact of all these factors.
Supply is not getting according to the demand
Russia is a major supplier of gas throughout Europe through its transcontinental pipelines. Ukraine crisis could disrupt supplies. While the global economy is slowly recovering from the effects of the COVID-19 pandemic, rising energy demand around the world could destabilize growth.
Impact on household items
Rising tensions in Ukraine have raised fears of war, which could have a manifold effect on gas costs. This effect may be visible by April when the prices of LPG will be revised. According to the media report, analysts said that the price can go up to $ 6-7 from $ 2.9 per mmBtu.
