Bengaluru : Cooking oil shock: Prices jump quietly amid Iran-Israel war, more hike likely next week
Edible oil prices in Bengaluru rose ₹4–₹5 per litre within a week as the Iran–Israel conflict lifts global costs. Brands like Fortune and Gold Winner hiked rates, with traders warning of another ₹10–₹15 increase if tensions persist.
Prices of leading edible oil brands in Bengaluru increase by ₹4-₹5 per litre within a week; market sources warn of further hike of up to ₹15 if global tensions continue.
The impact of the ongoing conflict between Iran and Israel is now being felt directly in household kitchens in Bengaluru. Without much noise in the market, cooking oil prices have quietly increased over the past week.
Compared to last week, the price of edible oil has gone up by ₹4 to ₹5 per litre. Market sources say that if the international war situation does not ease, prices could rise sharply by another ₹10 to ₹15 per litre in the coming week.
Brand-Wise Price Increase
Several major cooking oil brands have revised their prices:
Gold Winner: Last week, one litre was priced at ₹161. This week, it has increased to ₹165.
Sunpure: The price has moved from ₹161 per litre last week to ₹165 this week.
Fortune: The rate has gone up from ₹152 per litre to ₹157.
Apart from these brands, most other leading cooking oil products in the market have also recorded an average increase of ₹4 to ₹5 per litre.
Are Traders Using War as an Excuse?
While the war is being cited as the main reason for the hike, serious allegations have emerged against traders. According to market information, there is sufficient stock of cooking oil available in markets and warehouses, enough to meet demand for at least one month.
Despite having adequate inventory, there are accusations that some traders are deliberately increasing prices by using the war situation as a reason. Questions are being raised about whether an artificial shortage is being created to profit from the situation.
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Source : News First Prime
