Govt can subsidize it to some extent but if the prices increase like that in the international market there will be no alternative except increasing the domestic price.
The consumption of this commodity in India is very huge and all the costs are directly or indirectly related to it. It may spark a rise in the prices of other items also.
Knowledge is power.
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@KVRR, valid point highlighted, state governments also earn by taxes, The only easy option would be for the central government to give subsidies like they did for the LPG cylinders but it may be a logistical nightmare how to decide, whom to give it.