Non-subsidised LPG price slashed by Rs 4 per cylinder; ATF price hiked by 8.7%

Oil Marketing Companies (OMCs) taking cues from the global oil market conditions have cut non-subsidized or market-priced domestic cooking gas (LPG) by Rs 4 per 14.2-kg bottle, which consumers buy after exhausting their quota of subsidised cooking fuel. Following the cut, non-subsidised cooking gas (LPG) now costs Rs 509.50 per 14.2-kg cylinder in Delhi as against Rs 513.50 previously. Non-subsidised LPG price was last cut on March 1 by Rs 61.50 per 14.2-kg bottle.

However, the oil firms have hiked the prices of the Jet fuel or aviation turbine fuel (ATF). In Delhi, it has been raised by Rs 3371.55 per kilolitre, or 8.69 percent, to Rs 42,157.01 per kilolitre. The hike comes on the back of a marginal 1.3 percent or Rs 515.85 cut in rates on March 10. Prior to that, rates were hiked by steep 12 percent, or Rs 4,174.49, on March 1, almost neutralizing Rs 4,765.5 cut on February 1. Jet fuel prices constitute over 40% of an airline’s operating cost. Rates vary from airport to airport depending on the local sales tax or value-added tax (VAT).

State-owned fuel retailers, Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) revise jet fuel and non-subsidised LPG prices on the first of every month based on average imported cost and rupee-dollar exchange rate.