A day after hiking petrol and diesel rates, the price of non-subsidized cooking gas (LPG) were upped by Rs.16.50 per cylinder in the wake of surging international crude oil prices due to the ongoing Iraq crisis.
With this first hike in six months, each non-subsidized 14.2-kg cooking gas cylinder which households buy after depleting their current quota of 12 cylinders will now cost Rs 922.50 in Delhi, against Rs 906 earlier. This price hike also snaps the declining trend that began in February with a price cut of Rs 107 per cylinder, which was followed by cuts of Rs 53.5 in March, Rs 100 in April, Rs 52 in May and lastly Rs 23.50 last month.
However, the price of subsidized cylinder has been left unchanged, which presently costs Rs 414 in Delhi. Losses on LPG have risen to Rs 449 per subsidised cylinder from Rs 432.71 in the previous month.
Separately, oil marketing companies have also upped price of jet fuel or aviation turbine fuel (ATF) at Delhi by Rs 413.78 per kilolitre (kl), to Rs 70,161.76 per kl. This price hike comes after three straight months of reductions, the last one of Rs 1,285.89 per kl, or 1.81%, which came into effect on June 1. However, this development is negative for aviation industry as Jet Fuel accounts for over 40% of an airline's operating costs and the price hike will increase the financial burden of cash-strapped carriers.
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