Aviation Turbine Fuel or Jet fuel price on July 1st was hiked by 1.65 percent. This marks the first rate hike in four months after a series of reductions due to falling oil prices.
In the national capital, the price of Aviation Turbine Fuel (ATF) was raised by Rs 1,476.79 per kilolitre, or 1.65 percent, to reach Rs 90,779.88 per kl. This information was shared in a price notification by state-owned fuel retailers.
The new rates vary across states based on local sales tax or VAT. They have been increased due to the stabilization of global rates, following four months of decline.
Jet fuel prices had experienced reductions in the past four monthly revisions, which occur on the first day of each month. The last revision took place on June 1, when ATF prices were reduced by Rs 6,632.25 per kl.
In Delhi, the prices of commercial LPG, typically used in hotels and restaurants, remained unchanged. However, there was a slight increase in Mumbai, Kolkata, and Chennai.
The price of a 19-kg commercial LPG cylinder remained steady at Rs 1,773 in the national capital. In Mumbai, it increased by Rs 8.50 per cylinder, reaching Rs 1,733.50. Kolkata saw an increase of Rs 20 per cylinder, making it Rs 1,895. In Chennai, the price rose by Rs 8, reaching Rs 1,945 per 19-kg cylinder. These variations are primarily due to local taxes and transportation costs, as per industry officials.
Commercial LPG rates underwent three previous reductions, with prices going down by Rs 346.5 per 19-kg cylinder. The price of domestic LPG, used for cooking purposes in households, remained unchanged at Rs 1,103 per 14.2-kg cylinder in the national capital.
The rates for domestic LPG were last revised on March 1, with a hike of Rs 50 per cylinder. Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL), all state-owned companies, adjust cooking gas and ATF prices on the first day of each month based on the average international price of the previous month.
Petrol and diesel prices have remained unchanged for a record 15 consecutive months. In the national capital, petrol costs Rs 96.72 per litre, while diesel is priced at Rs 89.62.
According to regulations, state-owned fuel retailers should adjust petrol and diesel prices daily based on a 15-day rolling average of international fuel prices. However, since April 6, 2022, no changes have been made.
The last revision occurred on May 22, when the government reduced excise duty to provide relief to consumers from the surge in retail rates following an increase in international oil prices.
