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Jet fuel, or ATF, price on Friday was hiked by 3.3 per cent and rate of commercial LPG used in hotels and restaurants increased by INR 62 per 19-kg cylinder in the monthly revision done in line with international oil price trends. The aviation turbine fuel (ATF) price was increased by INR 2,941.5 per kilolitre, or 3.3 per cent, to INR 90,538.72 per kl in the national capital, according to state-owned fuel retailers.
The hike comes after two rounds of reduction that had taken the rates to their lowest this year. ATF price on October 1 was cut by 6.3 per cent ( INR 5,883 per kl) and by INR 4,495.5 per kl, or 4.58 per cent on September 1. The ATF rate in Mumbai was increased to INR 84,642.91 per kl on Friday from INR 81,866.13 previously.
Oil firms also increased the price of commercial LPG by INR 62 to INR 1,802 per 19-kg cylinder.
The tax at the rate of INR 5 a litre on Aviation Turbine Fuel (ATF) exports was scrapped with effect from October 2, according to a finance ministry notification issued late Saturday night. At the sixth fortnightly review, the government reduced the tax on domestically-produced crude oil to INR 8,000 per tonne from INR 10,500 per tonne.
This is the fourth straight monthly hike in commercial LPG prices. Prices were hiked by INR 48.5 to INR 1,740 on October 1. Prior to that rates were increased by INR 6.5 per cylinder on August 1 and by INR 39 on September 1. The four rounds of increase follow four monthly price reductions. In four price reductions, rates were cut by INR 148 per 19-kg cylinder and now in four rounds of increase, prices have gone up by INR 156 per bottle. Commercial LPG now costs INR 1,754.50 per 19-kg cylinder in Mumbai, INR 1,911.50 in Kolkata and INR 1,964.50 in Chennai. The rate of cooking gas used in domestic households, however, remained unchanged at INR 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 by INR 2 per litre in mid-March. Petrol costs INR 94.72 a litre in Delhi while diesel is priced at INR 87.62.
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