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News India Live, Digital Desk: Inflation: Whenever there is a big stress at the international level, it affects the economy of the whole world. These days, the increasing conflict between Iran and Israel has created upheaval in the global market, especially Crude oil In prices of. Due to this stress, the prices of crude oil have started touching the sky, and now the biggest question is, what will be the effect on India and your pocket?

Why are oil prices rising?
The biggest reason for this is fear. The Middle East is the largest oil producing area in the world. When the danger of war between big countries like Iran and Israel increases, investors and oil markets begins to fear that the supply of oil (supply) may stop. If the supply is interrupted, the oil will be less left to meet the demand, which will automatically increase the prices. Due to this fear, the prices of Brent crude oil in the global market have increased.

Why is there a matter of concern for India?
India buys more than 85% of its needs from other countries, that is, we are very much dependent on imports. When oil is expensive in the international market, we have to pay more money (in dollars) to buy the same oil.

Will petrol-diesel be expensive now?
This is the most important question. When India’s government oil companies (such as Indian Oil, Bharat Petroleum) buy expensive crude oil, they can increase the prices of petrol and diesel to recover their costs. However, many times the government does not increase the prices immediately due to elections or other political reasons and bear some burden itself, but it is not possible for a long time. If the prices of crude oil continue to remain high, then there is a possibility of increasing the prices of petrol and diesel in India.

Its effect is not limited to petrol pump. Due to the cost of diesel, freight (truck fare) increases, causing vegetables, fruits and other daily needs to become expensive. That is, it directly increases inflation.

At the moment, the situation is tense and everyone’s eyes are on the Middle East situation. If this confrontation increases, then it can be seen to have a direct effect on the common man’s pocket in the coming days.

Important news for those who make FD, this big government bank reduced interest rates