Rising tension for Indians..!? People Panic..!?

Sowmiya Sriram
Rising tension for Indians..!? people Panic..!?

Tensions between russia and ukraine remain high for the 13th day in a row. The two countries' counterparts have already held two rounds of talks. However, it does not seem to have given up yet. In this context, the third round of talks will take place the next day. Many US, Canadian and european countries are involved in Russia's core crude oil trade. They have banned the import of oil from Russia. Thus the Russian economy is expected to see a major downturn. While this is not the only problem for russia on the one hand, it has become a major problem for the rest of the world on the other.
Already the prices of many essential commodities, including cooking oil and wheat, have peaked. Crude oil prices have also peaked. It has also become a major problem for countries like india which are high importers. Among the problems between the two countries is the possibility of shortages of cooking oil and fuel.

 Thus indians have already started buying and storing cooking oil and fuels. In the midst of such global problems, 5 state elections in india have come to an end. Thus, the federal government, which has so far kept fuel prices under control, is expected to raise prices further.

Meanwhile, despite the problem of importing sunflower oil, the supply of soy, palm oil, mustard oil, and peanut oil is adequate. Mehta, managing director of the mumbai Solvent Extractors Association of india, said there was no need for people to panic. Fuel prices have not risen since november 4, with elections looming in several states. In this scenario, the fuel price is expected to increase by Rs 15-20 per liter. In a little while, the harvest of the crops sown in the winter will begin. Due to this, the demand for diesel may increase. It is also expected to boost prices.


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