Despite price moderation, there are no plans to reintroduce a budgetary subsidy, thereby turning over the full burden to OMCs.
The amount of subsidy in each case varies, but is less than Rs 30 apiece.
This is being done to reduce unevenness in the effective price of a domestic cylinder across the country.
The Organization of the Petroleum Exporting Countries and its allies decided to stick to their gradual approach for restoring output, which was slashed during the pandemic.
The countries agreed to add only 400,000 barrels of crude oil per day in November, pushing up international prices.
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