LPG Price Surge in Delhi and Kolkata Amidst Iran Conflict
The bustling kitchens of Delhi and Kolkata face a fresh challenge as the cost of a 19-kg commercial LPG cylinder climbs to Rs 3,113.50 and Rs 3,255.50 respectively. This latest hike, attributed to Rs 42 in Delhi and a more substantial Rs 53.5 in Kolkata, is yet another blow to businesses already reeling from economic strains.
Since the year's outset, when a similar cylinder cost Rs 1,691.50 in the capital, prices have more than doubled. This relentless upward trajectory is partly attributed to the geopolitical tensions gripping the Middle East, particularly the recent conflict involving Iran.
Impact on Businesses
Restaurants, catering services, and small eateries are some of the hardest hit, forced to absorb or pass on these costs to consumers. As inflation continues to gnaw at profit margins, the added burden of soaring fuel prices is unwelcome.
Vikram Sharma, who runs a popular café in South Delhi, laments, "Every month seems to bring a new challenge. First, it was the pandemic, then inflation, and now this. We can only raise prices so much before we start losing customers."
Geopolitical Ripples
The conflict in Iran has sent ripples throughout the global oil market, disrupting supply chains and driving up the cost of fuel products worldwide. Experts warn that unless tensions ease, further increases may be inevitable.
Economist Dr. Anjali Mehra notes, "While local factors do play a role, the international situation cannot be ignored. The volatility in the Middle East impacts all petroleum-based products, including LPG."
As businesses recalibrate their budgets, the broader economic implications of these price hikes are yet to be fully realised. For now, it is a waiting game, hoping diplomacy can defuse tensions before the next billing cycle.
