Jammu, June 17 -- Even countries like Saudi Arabia subsidise oil, gas prices

By Nantoo Banerjee

It is disturbing to note that the government has chosen an easy option to raise the domestic cooking gas prices at will to benefit a handful of public sector oil companies at the cost of nearly 337-million active domestic LPG consumers. This is despite the fact that in FY 26, India's state-run oil companies recorded a massive combined net profit of Rs.77,280.65 crore, a 130 percent jump from the previous year, with the Indian Oil Corporation (IOC) alone hitting a record annual profit of Rs.36,802 crore.

The latest hike for a 14.2-kg domestic LPG cylinder is Rs.29 effective nationwide on June 7, 2026. This is the second increase in three mont...