(MENAFN- Kashmir Observer) New Delhi- The price of Jet fuel, or ATF, on Wednesday was reduced by 1.5 per cent and rates of commercial LPG that is used in hotels and restaurants was cut by Rs 14.5 per 19-kg cylinder in the monthly revision done in line with benchmark international prices.
The Aviation turbine fuel (ATF) price was reduced by Rs 1,401.37 per kilolitre, or 1.52 per cent, to Rs 90,455.47 per kl in the national capital – home to one of the busiest airports in the country, according to state-owned fuel retailers.
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The rate cut follows two rounds of monthly increases. Prices were increased by Rs 2,941.5 per kl (3.3 per cent) on November 1, and by Rs 1,318.12 per kl (1.45 per cent) on December 1, 2024.
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The ATF price in Mumbai has been reduced to Rs 84,511.93 on Wednesday, from Rs 85,861.02 per kl previously.
Oil firms also reduced the price of commercial LPG by Rs 14.5 to Rs 1,804 per 19-kg cylinder in the national capital.
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This the first reduction in the prices after fifth straight monthly hikes in commercial LPG price. Rates were hiked by Rs 16.5 per 19-kg cylinder at the last revision on December 1, 2024.
In five price increases, commercial LPG rates had been hiked by Rs 172.5 per 19-kg cylinder.
Commercial LPG now costs Rs 1,756 per 19-kg cylinder in Mumbai, Rs 1,911 in Kolkata and Rs 1,966 in Chennai.
Prices of ATF and LPG differ from state to state depending on the incidence of local taxes including VAT.
The rate of cooking gas used in domestic households, however, remained unchanged at Rs 803 per 14.2-kg cylinder.
State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) revise prices of ATF and cooking gas on the first of every month based on the average price of benchmark international fuel and foreign exchange rate.
Prices of petrol and diesel continue to remain frozen. Rates had been cut by Rs 2 per litre in mid-March ahead of the general elections. Petrol costs Rs 94.72 a litre in Delhi, while diesel is priced at Rs 87.62.
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