Jet fuel, or ATF, price was on Tuesday reduced by 6.3 per cent to its lowest level this year, while the rate of commercial LPG used in hotels and restaurants was hiked by Rs 48.5 per 19-kg cylinder in the monthly revision done in line with international oil price trends.
Aviation Turbine Fuel (ATF) price was cut by Rs 5,883 per kilolitre, or 6.29 per cent, to Rs 87,597.22 per kl in the national capital, according to state-owned fuel retailers.
This is the lowest price of jet fuel this year. The price reduction, the second in a month, will help ease the burden of airlines for whom fuel makes up for almost 40 per cent of the operating cost.
Prices were on September 1 cut by Rs 4,495.5 per kl, or 4.58 per cent. The ATF rate in Mumbai was reduced to Rs 81,866.13 per kl on Tuesday from Rs 87,432.78 previously.
Prices differ from state to state depending on the incidence of local taxes.
Alongside, oil firms increased the price of commercial LPG by Rs 48.5 to Rs 1,740 per 19-kg cylinder.
This is the third straight monthly increase. Prices were hiked by Rs 6.5 per cylinder on August 1 and by Rs 39 on September 1. The three rounds of increase follow four monthly price reductions.
In four price reductions, rates were cut by Rs 148 per 19-kg cylinder and now in three rounds of increase, prices have gone up by Rs 94 per bottle.
Commercial LPG now costs Rs 1,692.50 per 19-kg cylinder in Mumbai, Rs 1,850.50 in Kolkata and Rs 1,903 in Chennai. 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.
