Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said in Lok Sabha on Thursday that domestic LPG can be sold at an "economical price" if international fuel prices come down from their current price of $750 per metric tonne.

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"It would be ideal if the international Saudi contract price could come down from $750 per metric tonne, it would enable domestic LPG to be sold at even more economical rates," he said, replying to questions from the members who wanted to know why the cost of the domestic gas cylinders is not being reduced.

He further added that one of the analyses he read, said that in a few years, it will LPG price rise will be a thing of the past due to its large availability.

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"But we will have to navigate the next two or three years through the kind of global situation as it exists today and as it is evolving," he added.

He rebutted the Opposition's claim of the government being insensitive on gas prices, particularly for the most vulnerable.

"We did not allow the cost of domestic LPG to increase. The Saudi contract price went up by 330 percent, yet the price increase was very small for the domestic thing," he said defending the government's decision for a price hike.