Fuel price update: Jet fuel down by 4.6%, commercial LPG up by Rs 39; all you need to know
By Team Asianet Newsable | First Published Sep 1, 2024, 2:19 PM ISTThe price adjustment is expected to alleviate some of the financial pressure on airlines, for whom fuel accounts for nearly 40% of operating costs. In Mumbai, ATF prices have been reduced to Rs 87,432.78 per kilolitre from Rs 91,650.34.
India on Sunday (September 1) witnessed significant adjustments to fuel prices with a notable reduction in jet fuel (ATF) and an increase in commercial LPG rates. The price of aviation turbine fuel (ATF) was reduced by 4.6% in the latest revision, bringing the rate down by Rs 4,495.5 per kilolitre, or 4.58%, to Rs 93,480.22 per kilolitre in Delhi, according to state-owned fuel retailers.
This decrease in ATF prices follows two consecutive rounds of price hikes in August, where the cost was raised by 2% and 1.2% respectively, after a substantial cut of 6.5% in June.
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The price adjustment is expected to alleviate some of the financial pressure on airlines, for whom fuel accounts for nearly 40% of operating costs. In Mumbai, ATF prices have been reduced to Rs 87,432.78 per kilolitre from Rs 91,650.34.
In contrast, the rate for commercial LPG, used predominantly in hotels and restaurants, has been increased by Rs 39 per 19-kg cylinder, bringing the price to Rs 1,691.50. This marks the second consecutive monthly rise following an earlier increase of Rs 6.5 per cylinder in August. Despite this, commercial LPG prices remain lower than they were prior to a series of four monthly reductions totaling Rs 148 per cylinder. Current rates for commercial LPG are Rs 1,644 in Mumbai, Rs 1,802.50 in Kolkata, and Rs 1,855 in Chennai.
The price of domestic cooking gas remains stable at Rs 803 per 14.2-kg cylinder. Fuel prices for petrol and diesel have been held steady, with petrol priced at Rs 94.72 per litre and diesel at Rs 87.62 per litre in Delhi.
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State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) adjust these prices monthly based on international fuel benchmarks and foreign exchange rates.
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