Jet fuel gets costlier by 3.3% as oil marketing firms hike rates, commercial LPG price also up by Rs 62 per cylinder

The government on November 1 hiked prices of aviation turbine fuel (ATF) by 3.3 percent and the rate of 19-kg commercial LPG cylinders by Rs 62 per in its monthly revision done accordance with international oil price trends. 

The price of ATF, or jet fuel, was increased by Rs 2,941.5 per kilolitre, or 3.3 percent, to Rs 90,538.72 per kilolitre in the national capital, according to state-owned fuel retailers. The ATF rate in Mumbai was increased to Rs 84,642.91 per kilolitre from Rs 81,866.13 previously. 

The hike comes after two rounds of reduction that had taken the rates to their lowest this year. 

On October 1, the price of ATF was cut by 6.3 percent (Rs 5,883 per kilolitre) and by Rs 4,495.5 per kilolitre, or 4.58 percent on September 1. 

Meanwhile, oil firms also increased the rate of 19-kg commercial LPG by Rs 62 to Rs 1,802 in Delhi. After the new revision, commercial LPG now costs Rs 1,754.50 per 19-kg cylinder in Mumbai, Rs 1,911.50 in Kolkata and Rs 1,964.50 in Chennai. 

The rate of cooking gas used in domestic households, however, remained unchanged at Rs 803 per 14.2-kg cylinder.  

This is the fourth straight monthly hike in commercial LPG prices. Rates were hiked by Rs 48.5 to Rs 1,740 on October 1. Before that rates were increased by Rs 6.5 per cylinder on August 1 and by Rs 39 on September 1. The four rounds of increase follow four monthly price reductions. 

Earlier, rates were cut by Rs 148 per 19-kg cylinder in four price reductions. However, after four rounds of hikes prices have gone up by Rs 156 per bottle. 

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 prices of petrol and diesel continue to remain frozen. Rates had been cut by Rs 2 per litre in mid-March. Petrol costs Rs 94.72 a litre in Delhi while diesel is priced at Rs 87.62. 

(With inputs from PTI)