Zee Media Bureau
New Delhi: Price of non-subsidised cooking gas (LPG) was Thursday cut by Rs 43.50 per cylinder and that of jet fuel (ATF) by 12.5 percent as international oil rates slumped to multi-year lows.
A 14.2-kg cylinder of non-subsidized LPG will now cost Rs 708.50, down from Rs 752 previously, in Delhi, oil companies announced today.
This is the sixth straight reduction in rates of non-subsidized or market priced LPG, which the customers buy after exhausting their quota of 12 cylinders at subsidized rates, since August.
In six monthly reduction, non-domestic LPG rates have been slashed by Rs 214 per cylinder.
On similar lines, Aviation turbine fuel (ATF), or jet fuel, rates were cut by a steep 12.5 percent.
The price of aviation turbine fuel (ATF), or jet fuel, at Delhi was cut by Rs 7,520.52 per kilolitre, or 12.5 per cent, to Rs 52,422.92 per kl, oil companies announced today.
This is the possibly the steepest cut in rates since ATF pricing was deregulated or freed in April 2002.
The cut, effective today, is the sixth reduction in jet fuel rates since August. The price was last cut by 4.1 percent, or Rs 2,594.93 per kl, on December 1.
Jet fuel constitutes more than 40 percent of an airline’s operating costs and the price cut will ease the financial burden of cash-strapped carriers.
The three fuel retailers—Indian Oil Corp. Ltd, Hindustan Petroleum Corp. Ltd and Bharat Petroleum Corp. Ltd—revise jet fuel and non-subsidized LPG prices on the first of every month, based on the average international prices in the preceding month.
With agency inputs
