In November 2024, consumers are facing a significant price hike in essential items like cooking oil and ghee, with costs rising up to Rs60 per kilogram in the open market. This increase has come as a blow to household budgets, especially as inflation has shown a slight decrease recently.
According to recent market data, first-grade ghee and cooking oil prices have surged by Rs54 per kg, bringing the price up from Rs505 to Rs559 per kg. Second and third-grade varieties have experienced even steeper increases of Rs60 per kg.
As a result, the price for second-grade ghee, which was previously Rs440 per kg, now stands at Rs500. In some areas, general ghee prices have reached between Rs525 and Rs530 per kg.
Second-grade cooking oil has also seen a sharp rise, going from Rs452 to Rs512 per liter. In certain markets, vendors are reportedly selling it for as much as Rs530 to Rs540 per liter, adding to consumers’ concerns about the rising costs of essential goods.
Amid these price increases, the Utility Stores Corporation (USC) provided some relief to consumers last week by reducing sugar prices. Sugar, which previously sold for Rs153 per kg, has been reduced to Rs140 per kg at USC outlets, a cut of Rs13 per kg. This price change took effect immediately, offering slight relief in the face of rising expenses on other essentials.
With cooking oil and ghee prices now at record highs, families across the country are feeling the strain on their budgets, and further price adjustments will likely be needed to ease their financial burden.
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