Business: Non-vegetarian food lovers are facing a big shock as chicken and egg prices have increased sharply over the past week.

The price of chicken has gone up significantly, making it expensive for many families. Fresh fish is also unavailable in coastal areas because fishing activities have been suspended.

The main reason for the price hike is the slow growth of chickens, which has reduced supply. At the same time, more chicken is being supplied to other states, resulting in lower availability in the local market.

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Egg prices have also increased. An egg that cost Rs.7 to Rs.7.50 three days ago is now priced at ₹9.

Similarly, the price of chicken has risen from Rs.300 per kg to Rs.360 per kg.

Traders say prices may come down once the supply improves. Until then, the increase is expected to put an extra burden on consumers.

Business: As the Iran conflict continues to affect global energy markets, Pune Gas has urged the Central Government to introduce India’s first LPG Efficiency Policy.

The company submitted its proposal to the Ministry of Petroleum and Natural Gas, stressing the need for better and more efficient use of LPG across the country.

Global supply disruptions have pushed commercial LPG cylinder prices to around Rs.3,100 from nearly Rs.1,884 earlier this year.

The price rise has increased costs for restaurants, hotels, hospitals, food processing units, MSMEs and other industries that depend on LPG.

Pune Gas said India has maintained a stable LPG supply, but improving fuel efficiency is now equally important.

The proposal recommends promoting the use of 47.5-kg LOT cylinders wherever suitable to reduce wastage, improve safety and prevent pilferage.

It also seeks awareness campaigns, standard practices and policy support to encourage efficient LPG systems.

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Pune Gas CEO Jesal Sampat said India should focus not only on increasing LPG supply but also on using the available fuel more efficiently.

The company also showcased its indigenous LPG management system, LPGenius, to improve safety, efficiency and cost savings.

Pune Gas has offered to support the government and oil marketing companies with field data, pilot projects and implementation assistance.

London: Global crude oil prices surged by more than 4% after the United States and Iran intensified missile and air strikes against each other.

The rise in oil prices is mainly due to growing concerns over the security of the Strait of Hormuz. It is one of the world’s most important routes for global oil shipments.

During Monday morning trading, Brent crude oil rose by 4.28% to $79.26 per barrel. West Texas Intermediate (WTI) crude oil increased by 4.37% to $74.53 per barrel.

Iran expanded its military attacks over the weekend to include Qatar and the United Arab Emirates (UAE). In response, the United States launched another round of air strikes on Iranian military bases.

Iran also announced the closure of the Strait of Hormuz after an attack on a commercial vessel that it claimed had violated regulations. According to ship-tracking data from Kpler, only six ships passed through the strait on Sunday. This is the lowest number recorded in the past five weeks.

Last month, the United States and Iran had reached a temporary agreement to keep the Strait of Hormuz open. However, the latest attacks have ended those efforts and increased tensions in the region.

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Iran’s Foreign Ministry strongly condemned the US strikes. It said the attacks were a clear violation of international law and the United Nations Charter.

Iran also warned that any country allowing the United States to use its land or military bases for operations against Iran would be treated as a hostile nation. It said such countries could face military action.