New Delhi: Prices of commercial LPG and Aviation Turbine Fuel (ATF) were both reduced on Wednesday, as international crude oil rates softened following the West Asia crisis. This marks the first decline in commercial LPG rates this year and the first cut in jet fuel prices since they touched a record high during the crisis.
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Commercial LPG, used mainly by hotels and restaurants, was cut by Rs 183.50 per 19-kg cylinder. With this revision, a 19-kg commercial cylinder now costs Rs 2,930, oil companies said.
The reduction comes a month after commercial LPG rates hit an all-time high of Rs 3,113 per 19-kg cylinder, as the West Asia crisis pushed up crude oil prices. Wednesday's cut is the first rollback in commercial cooking gas rates this year, after a series of hikes triggered by global energy supply disruptions linked to the crisis. Commercial LPG rates are revised on the first of every month, based on average benchmark rates from the previous month.
Meanwhile, the price of domestic 14.2-kg LPG cylinders remained unchanged at Rs 942. These rates were last hiked by Rs 29 on June 7.
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Jet fuel, or ATF, was cut by Rs 5 per litre on Wednesday amid softening international oil prices. ATF now costs Rs 110 a litre in Delhi, industry sources said. This is the first reduction in jet fuel rates since the West Asia crisis pushed them to a record high. The news comes a day after the government reduced the special additional excise duty (SAED) on ATF from Rs 12.5 per litre to Rs 7.5 per litre.