Cost of Living LIVE Updates Jan 03: Fuel prices steady. Check petrol and diesel prices in your city here

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Cost of Living LIVE Updates January 03: The cost of living is the amount of money one needs to survive in a given place – and one's most essential needs such as food, water, housing, taxes, cost of commute, healthcare, etc. The high rate of inflation has pushed up the cost of living across the globe, burning a hole in the common man's pocket.

Since the Russia-Ukraine war broke out, the cost of raw materials and commodities has gone up. This has increased India's payments outgo for oil, gold, and other commodities.Oil prices rose in the first session of the new year, boosted by potential disruption to Middle Eastern supply after the latest attack on a container ship in the Red Sea, and by demand hopes in China.

Also, India increased imports of Saudi oil in December as payment problems drove its Russian oil buys to an 11-month low.Brent crude was up 49 cents, or 0.6 percent, to $77.53 a barrel. US West Texas Intermediate crude was up 36 cents, or 0.5 percent, at $72.01, after both benchmarks gained around $2 in earlier trading, according to news agency Reuters.Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for a January 19 expiry, were last trading 1.41 percent higher at ₹5,942 per bbl, having swung between ₹5,935 and ₹6,148 per bbl during the session, against a previous close of ₹6,027 per barrel.

More details hereAs people thronged petrol pumps over fears of fuel shortage amid a massive protest by truck drivers, several states and cities clarified on Tuesday that they had adequate stock of petrol and diesel available at various terminals.Several reports on Tuesday claimed that there was a shortage of petrol and diesel at many petrol pumps across the state. Industry officials told news agency PTI