Oil companies ask for additional Rs 12,000 crore LPG, kerosene subsidy

Oil companies have asked for an additional Rs 12,000 crore liquefied petroleum gas (LPG), kerosene subsidy, sources told CNBC-TV18.

The current demand by the oil companies in terms of additional compensation comes as the prices of the subsidised LPG cylinders have gone up quite a bit.

Cooking gas price has been raised by Rs 2.89 per cylinder to Rs 502.4 per cylinder. The price of non-subsidised LPG at Delhi rose by Rs 59 per cylinder in October mainly due to change in international price and foreign exchange fluctuations, Indian Oil Corporation (IOC) said in a statement.