Inflation will fall on common man’s pocket. Petrol may become costlier by ₹ 18, warning of increase of ₹ 35 in diesel: – ..

News India Live, Digital Desk: The deepening crisis in global politics is now going to directly impact your pocket and kitchen budget. Amidst the increasing tension at the international level, a very scary report has come out regarding the Indian fuel market. Leading global brokerage firm Macquarie has warned that in the coming days, the prices of petrol and diesel in India may increase in such a way that it is difficult to even imagine.

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The instability in global crude oil prices has increased the concern of the Indian government and oil companies. According to Macquarie’s report, if tensions increase further in the Gulf countries and the supply chain of crude oil is affected, then petrol prices in the domestic market will increase. ₹18 per liter and diesel prices ₹35 per liter A huge increase of up to Rs. 10,000 can be seen. This apprehension is being raised when there is a danger of crude oil prices reaching sky high in the global market.

Why can prices increase so much?

In fact, India imports more than 85 percent of its crude oil needs. Even the slightest movement in crude oil prices in the international market directly puts pressure on the profits of Indian oil companies and the government exchequer. Experts believe that if oil supply comes to a halt due to war-like situations, then oil companies can pass the burden of prices on the general public to reduce their losses. A potential increase of ₹35 in diesel prices will directly impact freight and farming costs, which could trigger a new cycle of inflation.

Inflation hit: Fruits, vegetables and ration will also become expensive

If there is an increase in the prices of petrol and diesel to this level, its impact will not be limited only to the drivers. Due to diesel becoming expensive, transportation cost (cost of freight) will increase. Due to increase in the fare of trucks and mini vans, there will be a huge increase in the prices of fruits, vegetables, milk and ration reaching the markets. This means that this increase will not only empty the tank of your vehicle, but can also spoil the taste of your plate.

What option do the general public have?

At present, the government and oil companies are keeping a close watch on the situation. Although this huge increase in prices has not been officially announced yet, global signals have raised alarm bells. Market experts say that oil prices in the coming weeks will depend on which turn international geopolitical tensions take. The general public is being advised to be mentally prepared for this possible inflation and keep the budget balanced.