ATF price hiked by 2.75%, LPG cut by ₹102.5

This is the first reduction since October 6. Rates had gone up from ₹1,734 per 19-kg cylinder to ₹2,101 on December 1.

Halting a declining trend of last month, jet fuel or ATF price has been hiked by 2.75% on firming international oil prices, while cooking gas LPG rate has seen the first decline since October.

Aviation turbine fuel (ATF) price has been hiked by ₹2,039.63 per kilolitre, or 2.75%, to ₹76,062.04 per kl in the national capital, according to a price notification of state-owned fuel retailers.

The increase in rates comes on back of two rounds of price cuts seen in December that reflected a drop in international oil prices during the second half of November and mid-December.

Thereafter, international rates have firmed up, leading to the hike in ATF price.

ATF price had peaked to ₹80,835.04 per kl in mid-November before it was cut on December 1 and 15 by a total of ₹6,812.25 per kl or 8.4 per cent.

Jet fuel prices are revised on 1st and 16th of every month based on average price of international benchmark in the preceding fortnight.

Unlike ATF, commercial LPG rates are revised on 1st of every month after taking the average price in the preceding month.

The price of a 19-kg LPG cylinder, which is used in commercial establishments like hotels and restaurants, has been accordingly cut by ₹102.5.

This is the first reduction since October 6. Rates had gone up from ₹1,734 per 19-kg cylinder to ₹2,101 on December 1.

However the price of LPG used in domestic kitchens remains unchanged at ₹899.50 per 14.2-kg cylinder. This rate has not changed since October 6, prior to which it had gone up by almost ₹100 since July 2021.

Petrol and diesel prices too have not changed for almost two months now. Petrol costs ₹95.41 a litre in Delhi and diesel comes for ₹86.67 per litre.

While the rates are to be revised on a daily basis based on a 15-day rolling average of the benchmark international fuel, prices have not changed since November 4, 2021 when the Union government had cut excise duty on the two fuels.

Prices had eased from an all-time high on November 4, 2021 after the Union government had cut excise duty on petrol by ₹5 per litre and diesel by ₹10 a litre. States too cut local sales tax or VAT on the two fuels — BJP ruled states on the same day and some others at differing dates thereafter. But other than these two, the basis rates have remained unchanged.

Petrol used to cost ₹110.04 a litre in Delhi on November 3, 2017 and diesel was priced at ₹98.42 a litre. The current rate after accounting for a cut in excise duty and VAT.

Source: Read Full Article