The direct impact of the war between Iran and America-Israel has started falling on the pockets of common citizens of India. An increase in the prices of water, fuel and food items has been recorded in areas of North India. With the price of crude oil reaching close to $120 in the international market, plastic packaging and freight transportation has become expensive. Prime Minister Modi has appealed for peace but due to the war there is huge pressure on the supply chain.
📰: Tension increased after claim on Strait of Hormuz, President Trump gave Iran 5 more days.
What is the impact on the common man and how much have the prices increased?
Due to the war, the burden of inflation is increasing in the middle class and rural areas of India. Bottled water manufacturing companies have increased their prices by up to 11% as the cost of making plastic bottles has increased. Apart from this, the prices of premium petrol and industrial diesel have also increased. Due to expensive transportation, the prices of vegetables coming in the markets have also seen an increase of Rs 10 to 15. The government has imposed special rules to ensure availability of gas.
Global situation and major decisions of the Government of India
The prices of industrial diesel have been increased by a huge 25%. The price of premium petrol has increased by Rs 2 to Rs 2.35 per liter. The cost of bottled water has increased by 11%. Plastic packaging has become expensive due to increase in crude oil prices. The price of vegetables has increased by Rs 10 to 15 per kg. The Government of India has ordered to give priority to domestic PNG and CNG supply.
The Government of India has clarified that the prices of regular petrol and diesel used by the common man will not be increased for now. However, priority in gas distribution is now being given to domestic customers. The US President has currently postponed the attacks for a few days but Iran has warned of retaliatory action and closure of sea routes. IEA has called it a huge threat to the world economy.
