New Delhi. The price of aviation fuel was cut by 4.6 percent on Sunday. Commercial LPG used in hotels and restaurants has become costlier by Rs 39 per 19 kg cylinder. This step has been taken in line with the trend of oil prices in the global markets.
According to public sector retail fuel companies, the price of aviation turbine fuel (ATF) in the national capital Delhi has been reduced by Rs 4,495.5 per kilolitre i.e. 4.58 percent. Fuel accounts for about 40 percent of the total operating cost of airline companies. In such a situation, the reduction in price will reduce the cost burden on these companies.
Earlier, the price was increased twice. The price of aviation fuel was increased by 2 percent i.e. Rs 1,827.34 per kilolitre on August 1. Earlier, it was increased by 1.2 percent (Rs 1,179.37 per kilolitre). On June 1, the price of ATF was reduced by 6.5 percent (Rs 6,673.87 per kilolitre). After the reduction, the price of ATF in Mumbai has come down to Rs 87,432.78 per kilolitre, which was earlier Rs 91,650.34 per kilolitre. Due to local taxes, the price of ATF varies in different states.
With this, oil companies have increased the price of commercial LPG by Rs 39. This has increased the price to Rs 1,691.50 per 19 kg cylinder. This is the second consecutive monthly increase. On August 1, prices were increased by Rs 6.5 per cylinder. Earlier, prices were reduced four times monthly. The price of commercial LPG will now be Rs 1,644 per 19 kg cylinder in Mumbai. At the same time, it will be Rs 1,802.50 in Kolkata and Rs 1,855 per 19 kg cylinder in Chennai. However, the rate of LPG used in homes remains at Rs 803 per 14.2 kg cylinder.
Public sector Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd. (BPCL), and Hindustan Petroleum Corporation Ltd. (HPCL) revise the prices of ATF and LPG on the first of every month based on the average price of benchmark international fuel and foreign exchange rate. Petrol and diesel prices have remained stable. The price was cut by Rs 2 per liter in mid-March. In Delhi, the price of petrol is Rs 94.72 per liter while the price of diesel is Rs 87.62 per liter.