Oil companies ask for additional Rs 12,000 crore LPG, kerosene subsidy


Oil companies ask for additional Rs 12,000 crore LPG, kerosene subsidy

Oil companies have asked for an additional Rs 12,000 crore liquefied petroleum gas (LPG), kerosene subsidy, sources told CNBC-TV18.

The current demand by the oil companies in terms of additional compensation comes as the prices of the subsidised LPG cylinders have gone up quite a bit.

Cooking gas price has been raised by Rs 2.89 per cylinder to Rs 502.4 per cylinder. The price of non-subsidised LPG at Delhi rose by Rs 59 per cylinder in October mainly due to change in international price and foreign exchange fluctuations, Indian Oil Corporation (IOC) said in a statement. Read More

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