State-run oil firms can now raise prices of kerosene and cooking gas every month
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Coming months would see a gradual rise in the prices of subsidised While the price of subsidised kerosene has increased by Rs 4 per litre, or about 27% since June, the price of subsidised cooking gas has risen by Rs 22 per cylinder or about 5% in this period.
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One can see a stark difference while comparing these price rises to those of petrol and diesel, which are no more controlled by the government,. Their prices have increased by merely about 1% and 3%, respectively.
It was last year that the government had allowed Indian Oil Corporation,
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Also read: Petrol, diesel prices may change every day. Here’s why
However, now the oil ministry has issued a fresh order, which allows state-run oil firms to again raise prices of kerosene by 25 paise/litre per month for another four months. This would be implemented from April onwards. Companies can also increase cooking gas prices by Rs 2 per month, for which no time limit has been set.
As per industry insiders, the government plans to keep the overall oil subsidy burden controlled by continuing to gradually raise prices.
Also read: India would not have enough oil to export in coming 15 years
(Image source WSJ)
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