India has said it will provide a one-time time payment of 220 billion rupees ($2.7 billion) to state-owned oil reoners for selling liqueoed petroleum gas (LPG) to households below cost. LPG is widely used in India for cooking. International prices of LPG rose three-fold between June 2020 and June 2022 but state-owned orms raised prices by only 72, thereby incurring signiocant losses, according to a government statement. The grant will help state reoners Indian Oil, Bharat Petroleum and Hindustan Petroleum to continue supplying LPG to consumers at discounted prices.
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