Jet fuel, or ATF, price was on Tuesday (October 1, 2024) reduced by 6.3% to its lowest level this year, while the rate of commercial LPG used in hotels and restaurants was hiked by ₹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 ₹5,883 per kilolitre, or 6.29%, to ₹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% of the operating cost.
Prices were on September 1 cut by ₹4,495.5 per kl, or 4.58%.
The ATF rate in Mumbai was reduced to ₹81,866.13 per kl on Tuesday from ₹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 ₹48.5 to ₹1,740 per 19-kg cylinder.
This is the third straight monthly increase. Prices were hiked by ₹6.5 per cylinder on August 1 and by ₹39 on September 1. The three rounds of increase follow four monthly price reductions.
In four price reductions, rates were cut by ₹148 per 19-kg cylinder and now in three rounds of increase, prices have gone up by ₹94 per bottle.
Commercial LPG now costs ₹1,692.50 per 19-kg cylinder in Mumbai, ₹1,850.50 in Kolkata and ₹1,903 in Chennai.
The 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.
Published - October 01, 2024 01:08 pm IST
