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Oil marketing companies have cut the prices of non-subsidised LPG by Rs 23.50 per cylinder and jet fuel by Rs 1,285.89 per kilolitre, or 1.81%, to Rs 69,747.98 per kl in Delhi today.
This is the third reduction in jet fuel prices since April. The prices of aviation turbine fuel (ATF) was previously cut on May 1 to Rs 71033.87 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.
Boosted by the cooling down of international crude oil prices and strengthening of rupee, the prices of non-subsidised LPG was also cut for the fifth time, after touching a historic high of Rs 1241 a cylinder in January.
Meanwhile, according to the Petroleum Planning and Analysis Cell (PPAC), the under-recovery on diesel (HSD) applicable for 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 2014.
In the case of kerosene and domestic LPG, the under-recoveries for the first fortnight of June 2014 will be Rs 32.87 per litre, compared to Rs 33.84 per litre in last fortnight and Rs 432.71 per cylinder (Rs 449.13 per cylinder in last fortnight) respectively.
Oil Marketing Companies (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 previous fortnight.
