Ukraine Russia Conflict if there is war between ukraine russia many things will become expensive in india
By Lokmat English Desk | Published: February 23, 2022 02:39 PM2022-02-23T14:39:11+5:302022-02-23T14:39:11+5:30
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If a war breaks out between Russia and Ukraine or tensions persist, it could have a direct impact on ordinary citizens of India. This can lead to higher prices for many essential commodities. Prices of various grains from natural gas to wheat will also go up.
The Russia-Ukraine crisis has also pushed up crude oil prices. The price of crude oil has reached .7 96.7 per barrel. This is the highest level since September 2014. Russia is one of the largest producers of crude oil.
Natural gas prices will rise - the crisis could push crude oil prices to more than डॉ 100 a barrel in the coming days. Rising crude oil prices will also affect global GDP. According to India Today, JPMorgan's analysis
Subsidies on LPG and kerosene to increase - Subsidies on LPG and kerosene are expected to increase due to rising crude oil prices.
Petrol and diesel prices to go up - Petrol and diesel prices are likely to rise sharply in India if the Russia-Ukraine crisis persists. India imports more than 80 per cent of its oil needs. This will result in a current account deficit.
The price of wheat will also go up - if the Black Sea is blocked, experts say, it could have a big impact on prices. Russia is the world's top wheat exporter, followed by Ukraine. In global total wheat exports
The price of metals used in palladium, automotive exhaust systems and mobile phones has risen in recent weeks, despite the possibility of sanctions on Russia.
