Global oil prices have seen a fair bit of correction and as a result the price of commercial LPG, which is used by hotels and restaurants, was lowered by Rs 69 per 19-kg cylinder on Saturday, June 1 for the third month in a row. There are no changes in petrol and diesel prices though.
Price of LPG
Commercial LPG was reduced by Rs 69 to Rs 1,676 per 19-kg cylinder. This is the third consecutive month that rates have been lowered. Prices were lowered by Rs 19 per cylinder on May 1 and Rs 30.5 on April 1. However, the cost of cooking gas in residential homes stayed the same at Rs 803 for a 14.2-kg cylinder.
The first drop in commercial LPG prices since January occurred on April 1. On February 1st and March 1st, the prices were increased by Rs 14 and Rs 25.5 per cylinder, respectively.
Petrol and diesel
The cost of petrol and diesel is still fixed. In mid-March, rates were reduced by Rs 2 per litre. In Delhi, a litre of petrol costs Rs 94.72, while a litre of diesel costs Rs 87.62.
ATF prices reduced
Meanwhile the price of jet fuel, or aviation turbine fuel (ATF), was slashed by a sharp 6.5%. As per a price notification of state-owned fuel retailer, the price of ATF was reduced by Rs 6,673.87 per kilolitre, or 6.5%, to Rs 94,969.01 per kl in the national capital. However, the ATF rate in Mumbai was slashed to Rs 88,834.27 per kl from Rs 95,173.70.
Every month on the first, the state-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) adjust the pricing of cooking gas and ATF based on the foreign exchange rate and the average price of benchmark international fuel.
(with PTI inputs)