India's three state refiners will reportedly receive an additional cash subsidy of 200 billion rupees ($4.46 billion) in the final three months of the fiscal year ended Mar. 31 to help compensate for sales of regulated products -cooking gas, kerosene and diesel -at well below market prices. Gasoline prices, which were in theory liberalized last year, have not been raised since January, while diesel prices were last increased in June 2010. The government had reportedly already allocated 210 billion rupees in subsidies to the three refiners -Indian Oil, Bharat Petroleum and Hindustan Petroleum -for the first nine months of the fiscal year.
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