The price of jet fuel, or ATF, was raised by 8.5% on Tuesday, the second increase in a month, whereas commercial cooking gas was reduced by Rs 100 a cylinder, reflecting different trends in international benchmarks.
According to a price statement from state-owned fuel dealers, the price of aviation turbine fuel (ATF) in the national capital has increased by Rs 7,728.38 per kilolitre, or 8.5%, to Rs 98,508.26 per kl.
Rates, which vary by state depending on the presence of local sales tax or VAT, have been raised in response to a firming up of worldwide rates following a four-month fall.
The increase follows a 1.65% or Rs 1,476.79 per kilo increase in ATF rates that took effect on July 1. Rates had decreased four times before then.
On the other side, the cost of commercial LPG, which is utilized in places like hotels and restaurants, was decreased by Rs 100 per cylinder.
In the national capital, a 19-kg industrial LPG cylinder currently costs Rs 1,680.
LPG pricing is based on the Saudi contract price (CPP), which has declined since reaching a peak in March, according to industry officials.
ATF rates had to be raised since the price of jet fuel has risen globally in tandem with the firming of the price of crude oil.
Beginning in April, commercial LPG prices were decreased for the preceding three monthly revisions. Prices had decreased by Rs 346.5 per 19-kg cylinder through three cuts.
Residential LPG, which is used for cooking, is still costing Rs 1,103 per 14.2-kg cylinder in the nation’s capital.
The cost of domestic LPG last increased by Rs. 50 per cylinder on March 1.
The prices of cooking gas and ATF are revised by the state-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) on the first of every month based on the monthly average international price.
For a record-setting sixteenth consecutive month, the price of gasoline and diesel remained frozen. A liter of gasoline is priced at Rs 96.72 & a liter of diesel is priced at Rs 89.62 in the nation’s capital.
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Since April 6, 2022, state-owned fuel merchants have not updated the pricing of gasoline and diesel daily following a 15-day rolling average of benchmark international fuel prices.
The last time prices changed was on May 22, when the government reduced excise duty to provide customers with relief from a jump in retail prices that accompanied a rise in global oil prices.
