Jet fuel price cut by 3%

In the first reduction in rate in two months, jet fuel or ATF price on Thursday was cut by 3% in line with softening international crude oil prices.

Aviation turbine fuel (ATF) price was reduced by ₹1,887 per kilolitre, or 3%, to ₹58,374.16 per kl in the national capital, according to a price notification of state-owned fuel retailers.

This is the first reduction in rates after four rounds of increase since February.

Rates were increased by ₹3,246.75 per kl on February 1, followed by a 3.6% hike on February 16, and a steep 6.5% raise on March 1. On March 16, prices were again raised by ₹860.25 per kl.

On Thursday, a ₹10 per cylinder reduction in price of domestic cooking gas LPG also came into effect. The reduction followed four rounds of increase, totaling ₹135 per 14.2-kg cylinder, in as many weeks. A 14.2-kg subsidised and non-subsidised LPG cylinder now costs ₹809 in the national capital.

Meanwhile, petrol and diesel prices remained unchanged for the second day in a row after three reductions in a week. The reductions totalled 60-61 paise per litre. Petrol now costs ₹90.56 per litre in Delhi, down from a record high of ₹91.17, and a litre of diesel comes for ₹80.87.

While petrol and diesel prices are revised on a daily basis, ATF and LPG rates are revised on the 1st and 16th of every month.

Central and state taxes make up for 60% of the retail selling price of petrol and over 54% of diesel. The union government levies ₹32.90 per litre of excise duty on petrol and ₹31.80 a litre on diesel.

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Printable version | Jun 24, 2022 11:51:01 am |