US Israel Iran war: Prices of numerous daily-use commodities set to rise from April, how will common man's pocket be impacted?
US Israel Iran war: The conflict involving Iran, Israel, and the United States is impacting the general public. Rising crude oil prices have driven up the cost of petrochemical byproducts. Furthermore, disruptions in supply chains have led to a shortage of raw materials. Consequently, the prices of numerous daily-use commodities are set to rise starting April 1.
Yogesh Mehta, President of the Association of Industries, Madhya Pradesh, stated that industrial operations have been adversely affected due to disruptions in LPG supply. Crude oil-based chemicals and raw materials have become more expensive—with prices surging by as much as 200–300%—thereby impacting production costs and operational efficiency.
Footwear, plastic products, chemicals, detergents, soda, and soaps will be costlier
Existing stock is expected to last until March. Subsequently, new rates will come into effect starting April 1. From April onwards, footwear, plastic products, chemicals, detergents, soda, and soaps are set to become more expensive.
Rising tensions in West Asia have heightened concerns among companies. As the prices of crude oil and other raw materials surge, operational costs are escalating, prompting companies to consider raising product prices. Consequently, the cost of a wide range of goods—from daily essentials such as bottled water, salt, and cooking oil, to consumer durables like air conditioners and refrigerators, and even non-surgical medical supplies—is likely to rise.
The primary reason for this is that the ongoing conflict has crippled the plastics industry. Over the past 30 days, the cost of raw materials has skyrocketed by 50–70%. The price of LDPE—the most widely used type of plastic granules—has surged from ₹110 per kilogram to ₹180 per kilogram.
Plastic prices to escalate
Prices for other polymers and raw materials have also witnessed a significant hike, rising by Rs 30,000 to 70,000 per tonne. Given this scenario, plastic prices could escalate by 50–60% in April. Furthermore, the cost of plastic storage tanks and containers is projected to rise by 30–40%.
According to the Madhya Pradesh Association of Industries, prices are expected to increase by 20–25%. Items such as bread, biscuits, footwear, and plastic products—among others—will become more expensive as companies implement new pricing rates. Specifically, the price of biscuits, bread, slippers and detergent is likely to increase.