ATF price cut by 4.6%; commercial LPG price hiked by Rs 39 per cylinder

Representational file image. | Photo credit: E. Lakshminarayanan

The price of jet fuel or aviation turbine fuel (ATF) was reduced by 4.6% on Sunday (September 1, 2024), while the rate of commercial LPG used in hotels and restaurants was raised by Rs 39 per 19-kg cylinder in a monthly revision in line with international oil price trends.

According to state-run fuel retailers, ATF price in the national capital fell by Rs 4,495.5 per kilolitre or 4.58% to Rs 93,480.22 per kilolitre.

The price reduction will help ease the burden on airlines, for whom fuel accounts for about 40% of their operating costs.

This reduction comes after two price hikes on a monthly basis. Jet fuel prices were hiked by 2% or ₹1,827.34 per kilolitre on August 1 and 1.2% (₹1,179.37 per kilolitre) on diesel. This hike comes after a massive cut of 6.5% (₹6,673.87 per kilolitre) implemented on June 1.

The ATF rate in Mumbai was reduced from Rs 91,650.34 per kilolitre to Rs 87,432.78 per kilolitre on Sunday.

Prices vary from state to state depending on local taxes.

Along with this, oil companies increased the price of commercial LPG by Rs 39 to Rs 1,691.50 per 19 kg cylinder.

This is the second consecutive monthly hike. On August 1, the price per cylinder was hiked by Rs 6.5. This two-time hike in prices comes after a four-month long reduction. In the four-time reduction, the price of a 19 kg cylinder was reduced by Rs 148.

Commercial LPG is now priced at Rs 1,644 for a 19-kg cylinder in Mumbai, Rs 1,802.50 in Kolkata and Rs 1,855 in Chennai.

Domestic LPG unchanged

However, the price of LPG gas for domestic use remained unchanged at Rs 803 for 14.2 kg cylinder.

Public sector Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise ATF and LPG prices on the first of every month based on the average price of benchmark international fuels and foreign exchange rate.

Petrol and diesel prices remain stable. Prices were cut by Rs 2 per litre in mid-March. In Delhi, the price of petrol is Rs 94.72 per litre while diesel is priced at Rs 87.62 per litre.