Nepal LPG Price Update: The direct impact of Iran war and Hormuz tension is being seen the most not only on India but also on India’s neighboring country Nepal. Where, rapidly increasing inflation in Nepal has started hitting the pockets of the common people. Meanwhile, according to some reports, within the last three months in Nepal, a record increase of 60 percent in diesel prices and 28 percent increase in petrol prices has been recorded.

Budget spoiled in every house of Nepal

In fact, due to the sharp rise in fuel prices due to the war, the budget of every household in Nepal seems to be completely deteriorating. Whereas, a huge increase of 11.5 percent has been seen in the prices of LPG which is used for daily use. Apart from this, now people are most worried about how they will run their house?

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Increase in freight cost recorded

Not only this, the biggest impact of rising cost of fuel is also being seen on the country’s transportation system. Where, the fare of public vehicles used by the general public has been increased by 20 percent. Due to which people are facing many problems in the cost of sending goods from one place to another within the country.

However, the direct effect of cost of freight transportation is now being seen in people’s kitchens. Giving information about this, retail traders said that due to increase in transportation expenses, the prices of fruits, vegetables, pulses and other essential food items are changing rapidly every week, due to which people have reduced their purchases.

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Impact on the pockets of the general public

The situation in Nepal is very worrying at present. On one hand, people’s pockets are being hit the hardest, while on the other hand, all food items are becoming increasingly expensive. Regarding which some experts said that if global crude oil prices do not improve soon, then the inflation situation in Nepal will get worse in the coming days.

India’s Inflation Impact: The effect of increasing tension in West Asia is now visible on India’s economy as well. Due to rise in oil prices and global uncertainty, pressure on the Indian currency has increased. The situation is such that the rupee has continuously weakened and reached near Rs 93 per dollar, due to which a situation of economic uncertainty is being created. At the same time, inflation in the country has also reached its highest level in almost ten months.

Experts believe that if this crisis continues for a long time, it can directly impact the pockets of common people. Although at present it does not seem to have a major impact on consumers, but if the situation continues for a long time, there may be an increase in fuel, travel and daily expenses.

Possible impact on India

1. Fuel and gas can be expensive

If the price of Brent Crude remains above $100 per barrel in the international market, then the prices of petrol, diesel and gas may increase. Due to this, there is a possibility of increase in the expenses of travel and daily life.

2. Imports will become expensive

India imports a large part of its needs. Due to the weakness of the rupee, prices of food items, industrial components, electronics and other imported goods may increase.

3. Foreign travel and studies are expensive

Due to the weakening of the rupee, services like foreign travel, foreign university fees and international online subscriptions may become more expensive than before.

4. EMI may also be affected

If inflation increases, the Reserve Bank of India may have to be cautious about cutting interest rates. In such a situation, the possibility of reducing the loan EMI may decrease and the pressure of high interest rates may persist for a long time. Obviously the crisis in West Asia is currently showing limited impact in India, but if oil prices remain high and the rupee weakens, then its impact may gradually reach the common people through inflation, fuel and everyday expenses.