The month of October has started. Navratri will begin soon and the festive season shopping will also begin. But five news that came out on the first day of the month has spoiled the mood of the common people. There is a reason for that too. All these things are directly affecting the pocket of common people. On one hand, the price of commercial gas cylinders has gone up, which is likely to make eating at restaurants more expensive. On the other hand, jet fuel prices have increased for the third consecutive month. Due to which the airlines companies can increase the air fare. Even on the first day of the month, the stock market is under pressure. Also, a fall in the rupee indicates an increase in imported inflation. At the same time, the rise in gold and silver prices is troubling the common man as well. Let’s try to understand all this in detail and in common language…

Commercial LPG is expensive

The price of commercial LPG has been increased by Rs 62.59 for a 19 kg cylinder. In September, the price of commercial LPG was increased by Rs 9.50 per 19 kg cylinder. Earlier, in two consecutive months in July and August, its price was Rs. 183.50 and Rs. 192 was reduced. The cuts were made after prices reached record levels in June. At that time commercial LPG became expensive due to disruption in global energy supply and high prices in the international market. Between February and June, the price of a 19 kg commercial LPG cylinder increased by Rs 1,373 from Rs 1,740.50 to Rs 3,113.50. After this it was reduced in July and August. Due to which food in restaurants may become expensive in the coming days. Apart from this, the price of sweets may also increase during the festive season.

Increase in jet fuel prices

In line with the price hike in the international market, the price of jet fuel (ATF) has been hiked by Rs 16 per liter from Thursday and the price of a 19 kg commercial LPG cylinder has also been hiked by Rs 62.59. Government oil companies have given this information. According to oil companies, the price of ATF for domestic airlines has increased from Rs 121 to Rs 137 per litre. Earlier in September, the price of ATF was increased by Rs 6.28 per liter i.e. 5.46 percent. There was an increase of five rupees per liter in August as well. ATF accounts for 40 percent of the total operating cost of airlines. In such a situation, fuel prices are a major factor affecting the costs of aviation companies. If experts are to be believed, the aviation companies may increase the air fares in the coming days.

Crash in the stock market

Sensex and Nifty fell in early trade on Thursday due to sustained selling by foreign investors. However, declines were limited as crude oil prices softened and traded below US$100 per barrel. In early trade, the BSE Sensex fell 215 points to 72,257.30 while the NSE Nifty fell 107.25 points to 22,518.90. Among the 30 companies included in the Sensex, shares of Mahindra & Mahindra, Maruti, Ultratech Cement, Bharat Electronics, Eternal and Asian Paints were the biggest losers. While shares of Kotak Mahindra Bank, Infosys, HCL Tech, Tata Consultancy Services and Axis Bank remained on the lead. According to stock market data, on Wednesday Foreign Institutional Investors (FIIs) invested Rs. 10,148.41 crore worth of shares were sold. On Wednesday, the Sensex closed down 48.78 points and the Nifty closed down 95.75 points.

The rupee also fell

The rupee traded within a limited range in early trade on Thursday, falling three paise to 95.97 per dollar. The continued demand for dollars from state-owned oil companies put pressure on the rupee. Forex traders said the decline in the rupee was however limited due to dollar selling by the Reserve Bank of India (RBI) in the spot and futures markets and the exchange rate remained below the 96.00 level. Apart from this, the continuous inflow of foreign capital and strengthening of US bond yields also kept the rupee under pressure. The rupee opened at 95.95 per dollar in the interbank foreign exchange market. It later fell to 95.97 per dollar, down three paise from its previous close. On Wednesday, the rupee lost its initial gains and closed flat at 95.94 per dollar. Depreciation of rupee increases imported inflation. The burden of which falls on the pocket of common people.

Gold and silver became expensive

On the other hand, the futures market of the country is witnessing a rise in the prices of gold and silver. Gold has once again crossed the Rs 1.5 lakh mark. Due to which the dream of buying gold of common people has been dashed. If we look at the data, gold price on MCX increased by Rs 1,703 to Rs 1,50,739 lakh per ten grams. While the price of silver is also increasing. During the trading session, silver prices rose by Rs. 3,190 was seen to increase and Rs. 2,26,896 per kg was reached.