Poging GOUD - Vrij
Govt Likely To Soon Compensate Oil Companies For LPG Losses
Millennium Post Delhi
|New Delhi 11July2025
The total under-recovery on LPG sales for the industry in the 2024-25 fiscal year is estimated at about Rs 40,500 crore
NEW DELHI: The government is likely to give a subsidy of Rs 30,000-35,000 crore to state-run oil companies - Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) - to compensate for losses incurred from selling LPG at below cost over the past 15 months, according to a senior official.
The finance ministry is working out the exact under-recovery or loss incurred and the mechanism to compensate it, he said.
In the Union Budget for 2025-26 fiscal (April 2025 to March 2026) presented on February 1, the government has made no provision to compensate for the under-recoveries. However, in April, the government raised excise duty on petrol and diesel to garner additional Rs 32,000 crore in revenues.
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