Of the Rs 8000 crore under recovery on kerosene and cooking gas for the September quarter, the government's share of the subsidy bill is around Rs 7300 crore. ONGC's share is seen at approximately Rs 600 crore, and OIL India's contribution is seen below Rs 100 crore.
A fuel price hike may just be a few days away- with OMC under-recoveries rising sharply. In an interview to CNBC-TV18, Finance Secretary RS Gujral said that LPG, diesel and kerosene will see price hikes after the passage of the finance bill.