On Friday, the price of aviation turbine fuel (ATF) was increased by three percent, while the price of commercial LPG cylinder was reduced by Rs 33.50. According to government fuel retailers, the price of jet fuel (ATF) in the national capital has increased by Rs 2,677.88 per kiloliter or 2.9 percent to Rs 92,021.93 per kiloliter. It is one of the busiest airports in the country. The increase has occurred after a huge increase of 7.5 percent (Rs 6,271.5 per kilo) last month, increasing the operational cost of the airlines.
This increased in July after the three monthly cuttings that began in April. In the three cuts, the total prices were cut by Rs 12,239.17 per kiloliter. After this, the increase (Rs 8,949.38 per kiloliter) has abolished about three-fourths of profit.
Increase in the price of ATF is corresponding to geopolitical stress and the rise in international oil prices after the trade war. This increase will increase the burden on commercial airlines, for which fuel operating costs about 40 percent. No immediate comments could be obtained from the airlines on the impact of price increase.
In Mumbai, the price of ATF was increased from Rs 83,549.23 per kiloliter to Rs 86,077.14 per kiloliter, while in Chennai and Kolkata, it was priced at Rs 95,512.26 and Rs 95,164.90 per kiloliter respectively. The rates city by cities vary depending on the influence of local taxes such as VAT. In addition, oil companies have cut the price of 19 kg commercial LPG cylinder by Rs 33.50. Now the price of commercial LPG in the national capital will be Rs 1,631.50.
This is the fifth consecutive cut in the prices of commercial cooking gas (LPG). Last time, the 19 kg cylinder prices were cut by Rs 58.5 on 1 July. Earlier, prices were cut by Rs 24 on 1 June, Rs 14.50 on 1 May and Rs 41 per cylinder on 1 April. Overall, since April, prices have been cut by Rs 171.5 per cylinder.
While oil prices are steadily rising, benchmark LPG rates have reduced due to low demand in summer months. The prices of ATF and LPG are different state rates, which depend on local taxes including VAT. However, the price of domestic LPG cylinder was unchanged at Rs 853 at Rs 853. In April, the price of domestic LPG was increased by Rs 50 per cylinder.
Public sector Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) amend the ATF and LPG prices based on the average price and foreign exchange rate of benchmark international fuel on the first date of every month. Domestic prices of petrol and diesel remain stable. Prior to the general elections last year, prices were cut by Rs 2 per liter in mid -March. Petrol in Delhi is Rs 94.72 per liter, while diesel is at Rs 87.62 per liter.
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