India plans price stabilization fund for gasoline, diesel and LPG
Business
The government is planning a Price Stabilization Fund for gasoline, diesel, and liquefied petroleum gas (LPG) to help keep fuel prices steady, even when global markets get shaky.
Inspired by a similar fund for farm goods back in 2015, this move aims to make sure sudden price jumps or supply hiccups don't hit your wallet too hard.
Fund would tap refiners' reserves
If approved, the fund would team up with oil refiners to set aside reserves that can be tapped during price spikes or supply crunches.
There's also talk of requiring companies to store more LPG as backup.
With India's fuel demand expected to keep rising, experts say this could not only stabilize prices but also encourage cleaner energy options down the line.