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Cooking Oil Prices Soar: Panic Buying Empties Store Shelves
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Middle East Tensions Spike Cooking Oil Prices: Panic Buying, 'No Stock' in Telugu States
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News18
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08-03-2026, 11:01
Middle East Tensions Spike Cooking Oil Prices: Panic Buying, 'No Stock' in Telugu States
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Cooking oil prices surge in Telugu states due to Iran-Israel conflict, causing panic buying and 'No Stock' boards in shops.
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Refined sunflower oil in Vijayawada rose ₹20/liter in a week; palm oil also increased ₹15-₹20/liter.
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India imports 60% of its crude oil, making it vulnerable to international market disruptions and price hikes.
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Wholesale traders like Koppuravuri Shobhan confirm unexpected demand; retailers like Mallikarjuna Rao note consumers seeking old MRP stock.
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Experts warn of a repeat of the 2022 Russia-Ukraine war impact; officials assure sufficient stock and action against artificial shortages.
Read Full Article on News18 in Telugu
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