The proposal was cleared by the Cabinet on Wednesday with the aim of bridging the losses on LPG accumulated by the three state-run fuel retailers between June 2020 and June this year.
India imports LPG, mostly from Saudi Arabia, to meet about half of the demand. The Saudi contract price, the benchmark followed by the state-run fuel retailers, has risen 300% during this period but LPG refill rates have been raised by 72%, the government said in a statement.
This story is from the October 13, 2022 edition of The Times of India Hyderabad.
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This story is from the October 13, 2022 edition of The Times of India Hyderabad.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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