LPG Price Hike: Due to the shortage of gas at the global level, the general public may be shocked.
It is being speculated that this will increase the prices of CNG, PNG and electricity. Along with running the vehicle, the cost of production in factories will also increase.
In the midst of rising inflation, the general public may once again get a setback. After petrol and diesel, now LPG is also going to loosen the pockets of the consumers. Cooking can become even more expensive from April.
There has been a huge shortage of gas around the world and from April its effect can be seen on India too, due to which the prices of gas can double here too.
Global gas shortage
Due to the global gas shortage, the prices of CNG, PNG and electricity will increase. Along with this, the cost of production in factories along with driving vehicles can also increase. There may also be an increase in the Fertilizer Subsidy Bill of the government.
Overall, the effect of all this is going to be on the common consumer only.In the midst of rising inflation, the general public may once again get a setback. After petrol and diesel, now LPG is also going to loosen the pockets of the consumers.
Cooking can become even more expensive from April. There has been a huge shortage of gas around the world and from April its effect can be seen on India too, due to which the prices of gas can double here too.
Global gas shortage
Due to the global gas shortage, the prices of CNG, PNG and electricity will increase. Along with this, the cost of production in factories along with driving vehicles can also increase. There may also be an increase in the Fertilizer Subsidy Bill of the government.
Overall, the effect of all this is going to be on the common consumer only.supply not meeting demand
Russia is a major source of gas supply to Europe, that is, it may be affected due to Ukraine crisis. The global economy is definitely coming out of the outbreak of the corona pandemic.
But due to the increasing demand for energy around the world, its supply may decrease. This is the reason why gas prices have gone up a lot.
The effect will be visible after the change in domestic prices
Due to the Ukraine crisis, a situation of war seems to be being created, the effect of which is visible all-round. And now gas can also be affected. The effect of global gas shortage will be visible from April, when the government will change the domestic prices of natural gas.
According to experts, it can be increased from $ 2.9 per mmBtu to $ 6 to 7. According to Reliance Industries, the price of gas from the deep sea will increase from $ 6.13 to about $ 10. The company will auction some gas next month. For this, it has linked the floor price to crude oil, which is currently $ 14 per mmBtu.
