The ramifications of closure of Hormuz Strait have started affecting life across the country. Once again the rates of Aviation Turbine Fuel (ATF), or jet fuel and commercial LPG have been increased considerably indicating that the coming days will be more difficult. To be more precise, the ATF price has more than doubled to a record Rs 2.07 lakh per kilolitre but for domestic airlines, the increase would only be 8.5 per cent. The commercial LPG rates have been raised by Rs 195.50 per cylinder. This is the first time ever that the ATF price has crossed Rs 2 lakh per kl mark. The government has moderated the price for domestic airlines showing its commitment towards common man’s concerns. It is worthwhile to note that ATF prices were hiked by 5.7 per cent (Rs 5244.75 per kl) on March 1.
This increase is likely to snowball thus forcing airlines to pass the burden on fliers. The rates of 19-kg commercial LPG cylinders were last increased by Rs 114.5 per 19-kg cylinder on March 1 while domestic LPG rates were last hiked by Rs 60 per 14.2-kg cylinder on March 7. Going by the trend and the situation on account of West Asia conflict, it becomes necessary for the people to get ready for hard times ahead because de-escalation seems to be a distant dream as of now. The government of India, under the leadership of Prime Minister Narendra Modi is moving carefully under the duress of the present crisis due to blockade of the Strait of Hormuz but one should understand that there are limitations to what the government can do.
The ripple effects of such a crisis are not limited to fuel prices alone but extend to transportation costs, supply chains, and ultimately the prices of essential commodities. A surge in fuel costs invariably leads to inflationary pressure across sectors, affecting households, small businesses, and industries alike. From increased airfare to higher logistics expenses, the burden is expected to be felt across the economic spectrum, making it all the more crucial for timely and balanced interventions.
Going by this fact it becomes imperative that people should act responsibly keeping in mind the urgency of the situation. It is pertinent to mention that neighbouring countries like Sri Lanka, Bangladesh, Pakistan and Nepal have also taken measures to deal with the energy crisis therefore people in India should also understand the criticality of the situation. At this juncture, the people should avoid believing in rumours, panic buying and spreading unverified information. All said and done, everyone should show spirit and collective responsibility to sail through these difficult times with confidence and composure.
