Soaring prices of goods and services have been a global phenomenon in recent months, especially after Russia’s disastrous invasion of Ukraine and the counter response of the Western allies against Russia in the form of economic sanctions. Most of the countries are now facing high rate of inflation triggered by skyrocketing prices of petroleum products. The impact of increased fuel price on the international market has already been felt in Nepali economy too as the inflation rate has already jumped to 7.87 per cent.