 "ATF price slashed 4.6%, commercial LPG up Rs 39 per 19-kg cylinder")
Jet fuel, or ATF, price was on Sunday reduced by 4.6 per cent while the rate of commercial LPG used in hotels and restaurants was hiked by Rs 39 per 19-kg cylinder in the monthly revision done in line with international oil price trends.
Aviation turbine fuel (ATF) price was cut by Rs 4,495.5 per kilolitre, or 4.58 per cent, to Rs 93,480.22 per kl in the national capital, according to state-owned fuel retailers.
The price reduction will help ease the burden on airlines for whom fuel makes up for almost 40 per cent of the operating cost.
The reduction follows two rounds of monthly price increases. Jet fuel prices were on August 1 raised by 2 per cent or Rs 1,827.34 per kl and by 1.2 per cent (Rs 1,179.37 per kl). These hikes followed a steep 6.5 per cent (Rs 6,673.87 per kl) reduction effected on June 1.
The ATF rate in Mumbai was reduced to Rs 87,432.78 per kl on Sunday from Rs 91,650.34 previously.
Prices differ from state to state depending on the incidence of local taxes.
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Alongside, oil firms increased the price of commercial LPG by Rs 39 to Rs 1,691.50 per 19-kg cylinder.
This is the second straight monthly increase. Prices were hiked by Rs 6.5 per cylinder on August 1. The two rounds of increase follow four monthly price reductions. In four price reductions, rates were cut by Rs 148 per 19-kg cylinder.
Commercial LPG now costs Rs 1,644 per 19-kg cylinder in Mumbai, Rs 1,802.50 in Kolkata and Rs 1,855 in Chennai.
Rate of cooking gas used in domestic households, however, remained unchanged at Rs 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 Rs 2 per litre in mid-March. Petrol costs Rs 94.72 a litre in Delhi while diesel is priced at Rs 87.62.