India raises cooking gas prices for all users
India raised taxes on diesel and petrol and also hiked cooking gas charges amid a slump in crude oil prices in a move aimed at helping the government shore up its revenue.
There will not be any corresponding hike in retail fuel prices as local refiners will absorb the hike, petroleum minister Hardeep Puri said on Tuesday.
The amount raised may be used to fund measures to boost domestic production amid concerns of a widening trade war, uncertainty and volatility, analysts said.
Hiking cooking gas prices may help state-run retailers narrow their losses on selling LPG cylinders at subsidized rates.
#pressinsider #news #tax #cookinggasprices #gasprices #inflation #inflation2025 #cylinderprice