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Oil marketing companies (OMCs) on Monday cut prices of non-subsidised liquefied petroleum gas (LPG) by Rs 23.5 per cylinder and jet fuel by Rs 1,285.89 per kilolitre (kl), or 1.81 per cent, to Rs 69,747.98 per kl in Delhi.
Prices of non-subsidised LPG were slashed for the fifth time after touching a historic high of Rs 1,241 a cylinder in January, thanks to a decline in international crude oil prices and strengthening of the rupee.
This is the third reduction in jet fuel prices since April. Prices of aviation turbine fuel were cut on May 1 to Rs 71,033.87 per kl in Delhi. On the other hand, jet fuel costs Rs 71,940.36 per kl as against Rs 73,306.89 per kl previously in Mumbai. For various cities, the rates are different due to local taxes.
According to Petroleum Planning and Analysis Cell, the under-recovery on diesel (HSD) applicable for the first fortnight of June will go down to Rs 2.80 per litre from Rs 4.41 a litre during the second fortnight of May.
In the case of kerosene and domestic LPG, the under-recoveries for the first fortnight of June will be Rs 32.87 per litre, compared to Rs 33.84 per litre in the last fortnight and Rs 432.71 per cylinder (Rs 449.13 per cylinder in last fortnight), respectively. OMCs are now incurring combined daily under-recovery of about Rs 262 crore on the sale of diesel, kerosene and domestic LPG. This is less than Rs 318 crore daily under-recoveries during the previous fortnight.
