The oil firms have reduced the price of commercial LPG by Rs 14.50 per 19-kg cylinder, while the price of jet fuel, or Aviation Turbine Fuel (ATF), has reduced by 4.4 per cent.
Additionally, the price of commercial LPG used in hotels and restaurants was lowered by Rs 14.50 per cylinder, in line with international benchmarks.
The Aviation Turbine Fuel (ATF) price was reduced by Rs 3,954.38 per kilolitre, or 4.4 per cent, to Rs 85,486.80 per kl in the national capital – home to one of the busiest airports in the country, according to state-owned fuel retailers.
The price cut follows a steep 6.15 per cent (Rs 5,870.54 per kl) reduction effected on April 1. These two reductions have effectively offset the price increases that occurred earlier this year.
The reduction follows a Rs 41 per cylinder cut in rates effected on April 1.
Prices of ATF and LPG differ from state to state depending on the incidence of local taxes, including VAT.
The rate of cooking gas used in domestic households, however, remained unchanged at Rs 853 per 14.2-kg cylinder. The price of the domestic LPG was hiked by Rs 50 per cylinder last month.
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State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) revise prices of ATF and cooking gas on the first of every month based on the average price of benchmark international fuel and foreign exchange rate.
The price reductions are primarily driven by softening international oil prices, influenced by global trade and demand concerns.
