LPG cylinder prices cut by Rs 36
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New Delhi, Aug 1: LPG price revision: The price of commercial Liquified Petroleum Gas (LPG) has been cut down by Rs 36 in several cities, including the national capital, Indian Oil informed on Monday. With this latest reduction, a 19 kg commercial LPG cylinder will cost Rs 1,976, instead of Rs 2012.50 in Delhi. In Kolkata, instead of Rs 2132, commercial LPG will be available for Rs 2,095.50. Its price has come down to Rs 1,936.50 in Mumbai and Rs 2,141 in Chennai.
Despite a reduction in the price of commercial LPG, there is still no decrease in the price of 14.2 kg of domestic LPG.
It was last hiked by Rs 50 per cylinder, the eighth increase in rates in the last year that took the cumulative rise to Rs 244. The respite in rates of commercial LPG will bring down the cost of food in hotels and restaurants. Along with the LPG prices, oil marketing companies on Monday reduced aviation turbine fuel (ATF) prices by a major 12 Percent to Rs 1.21 lakh per kiloliter in Delhi. The latest reduction in price comes 15 days after ATF prices were slashed by 2.2 Percent on July 16. From Rs 1,38,147.93 per kiloliter earlier, ATF price in Delhi has come down to Rs 121,915.57 in Delhi. The jet fuel price in Kolkata now stands at Rs 128,425.21; Rs 120,875.86 in Mumbai; and Rs 126,516.29 in Chennai. Further, jet fuel prices for domestic airlines flying international routes in metros will be Delhi at $1,161.28/kg, Kolkata at $1,201.42/kg, and Mumbai at $1,157.52/kg; and Chennai at $1,156.67/kg. Worth mentioning here is that this is the third reduction in rates this year. ATF prices are revised on the 1st and 16th of every month based on rates of benchmark international oil rates in the previous fortnight. Earlier on July 16, OMCs reduced ATF prices by Rs 3,084.94 per kiloliter or 2.2 percent to Rs 138,147.93 per kg, reflecting a fall in international oil prices. Before that, jet fuel prices were slashed on June 3 by 1.3 percent — the first reduction after 10 rounds of price hikes and the first this year.
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The decrease in ATF price will lower the operating cost for airlines, and jet fuel makes up to 40 percent of an airline's operating cost. Prices had climbed to Rs 141,232.87 per kg (Rs 141.23 per liter) in June this year. ATF prices were increased by the steepest ever 16 Percent to push rates to an all-time high in the wake of boiling international oil rates. The price of jet fuel was hiked by Rs 19,757.13 per kg, or 16.26 percent, to Rs 1,41,232.87 per kg (Rs 141.2 per liter) in Delhi.