This can be shocking news for consumers and those who are into the food business: As per some experts, the price of cooking gas can actually double from April!
Keep reading to find out more about this news..
Price Of Cooking Gas, LPG Can Double From April?
As per a news story published by Zee News Hindi, the price of cooking gas, LPG can rise by upto 100%, by April, 2022.
This means that consumers may have to shell out almost double the price that they are paying right now.
Rising inflation due to geo-political situation is the main reason, as per the experts.
As per the reports, the price of cooking gas can infact increase from $2.9 per MMBtu to $6-7, and this means a direct or indirect increase in the price of cooking gas by upto 100%!
Russia-Ukraine Conflict Is The Reason?
If we believe the experts, then the ongoing Russia-Ukraine conflict is the primary reason for this possibility, wherein the consumers may have to pay almost 100% more cooking gas and LPG.
Russia is a major supplier of gas across Europe and the world via transcontinental pipelines, and due to the sanctions imposed on Russia, along with the crisis of Russia-Ukraine war, there can be an acute shortage of gas for the entire world.
And this means that not only the price of gas will increase, but also electricity.
This can result in higher inflation, and more cost for the cooking gas.
Govt’s new Fertilizer Subsidy Bill can also lead to the price hike of commodities and gas, and this can further lead to price burden on the consumers.
The news of almost 100% rise in the price of cooking gas is not confirmed, and right now, its a speculation based on the Russia-Ukraine crisis, and a possibility of a war.
We will keep you updated, as more details come in.
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