INDIAN ECON, POLITICS, SOCIETY + BTC PRICE

[vivekdhyani1]

I checked the petrol price which remains the same but I noticed there is around 60 rupee hike in the LPG, I use Bharat gas and they just increased the price due to the war situation so probably the fuel price also might rise if the war goes on for like weeks.

But there were rumors that made every gas station to be filled with people, also anyone saw that someone bought 1000 litres of fuel because price might be increased?

Anyway, fuel price increase will result into everything to hike.

No increase in price of items for me but there is a shortage of LPG & that is understandable , don't think petrol prices will increase unless situation goes more severe in ME ..so far we have safe passage for our tankers , Iranian paying back their debt for saving their two ships that are docked in Kochi..would've saved third one too but that ship decided to ask Sri Lanka & i think that cost them , moment it was out of our EEZ zone USA blew it up.

[Cointikka]

No increase in price of items for me but there is a shortage of LPG & that is understandable , don't think petrol prices will increase unless situation goes more severe in ME ..so far we have safe passage for our tankers , Iranian paying back their debt for saving their two ships that are docked in Kochi..would've saved third one too but that ship decided to ask Sri Lanka & i think that cost them , moment it was out of our EEZ zone USA blew it up.

Hyderabad and Bangalore are highly affected by the shortage of commercial LPG cylinders. I saw a few videos on social media showing that restaurant owners are now using wood for cooking, and a few restaurants have stopped opening from today. I have read that the government is procuring gas from Algeria, alongside other nations like Australia, Canada, and the US, and that these procurements are currently in progress. Since Qatar is unable to deliver LPG to India. I hope the LPG shortage gets resolved soon.

[JSRAW]

No increase in price of items for me but there is a shortage of LPG & that is understandable , don't think petrol prices will increase unless situation goes more severe in ME ..so far we have safe passage for our tankers , Iranian paying back their debt for saving their two ships that are docked in Kochi..would've saved third one too but that ship decided to ask Sri Lanka & i think that cost them , moment it was out of our EEZ zone USA blew it up.

Hyderabad and Bangalore are highly affected by the shortage of commercial LPG cylinders. I saw a few videos on social media showing that restaurant owners are now using wood for cooking, and a few restaurants have stopped opening from today. I have read that the government is procuring gas from Algeria, alongside other nations like Australia, Canada, and the US, and that these procurements are currently in progress. Since Qatar is unable to deliver LPG to India. I hope the LPG shortage gets resolved soon.

Immediate LPG shortage might be true in resturant because of less clarity from the gov.

At the same time, some restaurant chains possibly trying to blackmail authority because of crackdown on their massive tax evasion. Recently Authorities crack down on many food chain restaurants and uncovered like some 50 thousand to 1 lakh crore inr tax fraud.

[Bitcoin Smith]

~

When I wrote this, this isn't even a news just noticed that the price was increased but couple days later it is the biggest headline of our country, every petrol bunk is having long queue and people are filling whatever they can.

But the main problem is LPG, they say only commercial but looks like the shortage is real for domestic ones too, and government said they increase the lockin period to 25 days from 15. I doubt the economy will face a serious dent if the LPG issue doesn't resolve in a week, because it's not just restaurants but almost affecting everything, and the workers then their family then it will be petrol and diesel?

[Cointikka]

When I wrote this, this isn't even a news just noticed that the price was increased but couple days later it is the biggest headline of our country, every petrol bunk is having long queue and people are filling whatever they can.

Petrol pump queue is a panic queue. The Indian government has been getting a good amount of crude oil from Russia; it has now gone upto 50 percent, as per reports

But the main problem is LPG, they say only commercial but looks like the shortage is real for domestic ones too, and government said they increase the lockin period to 25 days from 15. I doubt the economy will face a serious dent if the LPG issue doesn't resolve in a week, because it's not just restaurants but almost affecting everything, and the workers then their family then it will be petrol and diesel?

You are right, the main problem is LPG and LNG. An LPG shortage is evident, but an LNG shortage has yet to emerge. An LNG shortage can be catastrophic as it is used to produce fertilizers. I am sure the shortage can undermine the inflation the Indian government has been maintaining for quite some time, directly affecting the Indian economy's growth.

In all these crisis there is only one country that will be benifiting and that is Russia. Putin might be sitting in the Kremlin and enjoying the show started by Trump in the Middle East.

[JSRAW]

^^ bhai yahan bus train miss hone par panic ho jata hai logo ko. Toh jab 20-30% LNG or important commodity mein shortage aayega toh panic toh hona hi hai aur considering our size, 30 crore families mein se agar 10k families ko bhi problem huyi toh sab kuch doomsday jaisa lagta hai.

[pawanjain]

When I wrote this, this isn't even a news just noticed that the price was increased but couple days later it is the biggest headline of our country, every petrol bunk is having long queue and people are filling whatever they can.

But the main problem is LPG, they say only commercial but looks like the shortage is real for domestic ones too, and government said they increase the lockin period to 25 days from 15. I doubt the economy will face a serious dent if the LPG issue doesn't resolve in a week, because it's not just restaurants but almost affecting everything, and the workers then their family then it will be petrol and diesel?

Media has started showing long queues of people with their LPG cylinders.
I wasn't really paying much attention to it but the panic in the community has caught my attention.
There's so much of panic already. Seeing commercial shortage, family members have started their fomo.
Even the Chai tapri wala are shocked and worried about their businesses.

[Bitcoin Smith]

We had a rumour that Iran allowed the vessels that carry oil for India and then there was another one that it is not the case but there is no official announcement yet and also I don't see any important leader or government officials gave any update to the people. I guess that is one of the reason why people are panicing and stockpiling as much as they can so in short, we have enough to cover everything for the next few weeks but everyone wants to fill their tanks and order cylinders for them.

And this is a wakeup call, we should increase the storage for oil reserves and should encourage the use of solar and EV as much as we can to reduce the dependancy.

[JSRAW]

^^ arey bhai rumour nahi tha, 2-3 din se Iran's ambassador, media aur conferences mein keh raha tha ki indian bound ships will move freely, plus india - iran friendship, civilizational cultural ties, india helped us in different manner in this conflict ( probably hinting giving refuge to their warships) bla bla.

Kal hi 2 Indian flagged LNG shipments sail through the Strait of Hormuz to India.

On storage reserves, yup need 3-5x ( atleast 5-6 months) capacity because of our size.