Major OMCs step off LPG price-hike pedal; absorb Rs 100 per cylinder

"At present prices, OMCs are absorbing Rs 100 per domestic cylinder," said an executive

Public-sector oil-marketing companies (OMCs) are moderating the price of cooking gas in a bid to maintain affordability effectively, harking back to the days when they were bearing the subsidy burden of petroleum products.

According to executives in the know, IndianOil, Hindustan Petroleum, and Bharat Petroleum are holding back liquefied petroleum gas (LPG) price hikes by around Rs 100 for a 14.2-kilogram domestic cylinder.

"The price of LPG sold by Saudi Arabia has gone up steeply, from $483 a metric tonne in May to $797 in October. But OMCs are moderating the price of LPG and not transmitting the full hike