ATF price cut 4.6%; commercial LPG up by ₹39 per cylinder


Representational file image.

Representational file image.
| Photo Credit: E. LAKSHMINARAYANAN

The price of jet fuel or aviation turbine fuel (ATF) was on Sunday (September 1, 2024) reduced by 4.6%, while the rate of commercial LPG used in hotels and restaurants, was hiked by ₹39 per 19-kg cylinder in the monthly revision done in line with international oil price trends.

The ATF price was cut by ₹4,495.5 per kilolitre or 4.58%, to ₹93,480.22 per kl in the national capital, according to state-owned fuel retailers.

The price reduction will help ease the burden on airlines for whom fuel makes up almost 40% of the operating cost.

The reduction follows two rounds of monthly price increases. Jet fuel prices were on August 1 raised by 2% or ₹1,827.34 per kl and by 1.2% (₹1,179.37 per kl). These hikes followed a steep 6.5% (₹6,673.87 per kl) reduction effected on June 1.

The ATF rate in Mumbai was reduced to ₹87,432.78 per kl on Sunday from ₹91,650.34 previously.

Prices differ from State to State depending on the incidence of local taxes.

Alongside, oil firms increased the price of commercial LPG by ₹39 to ₹1,691.50 per 19 kg cylinder.

This is the second straight monthly increase. Prices were hiked by ₹6.5 per cylinder on August 1. The two rounds of increase follow four monthly price reductions. In four price reductions, rates were cut by ₹148 per 19-kg cylinder.

Commercial LPG now costs ₹1,644 per 19-kg cylinder in Mumbai, ₹1,802.50 in Kolkata and ₹1,855 in Chennai.

Domestic LPG unchanged

Rate of cooking gas used in domestic households, however, remained unchanged at ₹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 ₹2 per litre in mid-March. Petrol costs ₹94.72 a litre in Delhi while diesel is priced at ₹87.62.