The price of non-subsidised cooking gas (LPG) was on Monday cut by a sharp Rs 113 per cylinder and that of jet fuel (ATF) by 4.1 per cent on the back of slump in international oil rates.
This is the fifth straight reduction in rates of non-subsidised LPG, which the customers buy after exhausting their quota of 12 cylinders at subsidised rates, since August.
A 14.2-kg cylinder of non-subsidised LPG will now cost Rs 752 in Delhi, Rs 791 in Kolkata, Rs 770.50 and Mumbai and Rs 749.50 in Chennai.
The price in Delhi was cut from Rs 922.50 in July 2014, to Rs 920 in August and then again to Rs 901 in September. In two separate cuts in October the price was reduced first to Rs 880 and then to Rs 883. The last cut before Monday’s was in November when the price was dropped to Rs 865.
Likewise, the price of aviation turbine fuel (ATF), or jet fuel, at Delhi was cut by Rs 2,594.93 per kilolitre, or 4.1 per cent, to Rs 59,943 per kl. This is the fifth straight monthly reduction in rates. This reduction follows a steep 7.3 per cent or Rs 4,987.7 per kl, cut in prices on November 1.
In Mumbai, jet fuel will cost Rs 61,695 per kl from Monday. The rates vary because of differences in local sales tax or VAT.
Global crude prices are close to levels last seen in 2009, when the global economy was gripped by its worst slump since the 1930s. Continuing its downward trend, Brent Crude fell 1.7 per cent on Monday morning to USD 68.40 a barrel or 40 per cent below its peak in June.
