Jet Fuel Sees Marginal Hike, Commercial LPG Rates Drop: See Fuel Market Dynamics Outlook
Jet Fuel Sees Marginal Hike, Commercial LPG Rates Drop: See Fuel Market Dynamics Outlook

Jet fuel prices saw a slight increase of 0.7 percent, while commercial LPG rates took a dip of Rs 19 per cylinder, aligning with global trends. In New Delhi, the price of Aviation Turbine Fuel (ATF) rose by Rs 749.25 per kilolitre, reaching Rs 101,642.88 per kl, a modest increment from the previous rate. Mumbai witnessed a similar uptick, with prices climbing to Rs 95,173.70 per kl. However, rates may vary across states due to local taxes.

Simultaneously, commercial LPG prices witnessed a reduction, dropping to Rs 1,745.50 for a 19-kg cylinder. This marks the second consecutive month of price reduction, following a decrease of Rs 30.5 per cylinder on April 1. Meanwhile, domestic LPG prices remain steady at Rs 803 per 14.2-kg cylinder.

State-owned oil companies such as Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) adjust ATF and LPG prices on the 1st of each month, based on global fuel benchmarks and exchange rates.

Notably, prices for petrol and diesel remain unchanged since mid-March, with petrol priced at Rs 94.72 per litre and diesel at Rs 87.62 per litre in Delhi.

The adjustment in jet fuel prices comes after a marginal 0.5 percent reduction on April 1, indicating a fluctuating trend in fuel costs. Commercial LPG prices, on the other hand, have been on a downward trajectory since January, with the latest reduction marking the second consecutive month of decline.

The freeze on petrol and diesel prices persists, with no changes since the Rs 2 per litre reduction in mid-March. This stability contrasts with the fluctuations seen in jet fuel and commercial LPG rates, reflecting the complex dynamics of the fuel market.

Consumers, particularly in the aviation and hospitality sectors, closely monitor these price movements as they impact operational costs and, ultimately, consumer prices. With global economic factors influencing fuel prices, stakeholders keep a keen eye on developments to anticipate future trends and adjust strategies accordingly.

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