The Aviation Turbine Fuel (ATF) prices witnessed a jump of 4.2 per cent, with effect from November 1, 2022. The jet fuel is now retailing at Rs 1.2 lakh per kilolitre in the national capital, according to the data available on the Indian Oil Corporation (IOC’s) website. The increase in the jet fuel prices by Rs 4842.37 per kilolitre reverses the 4.5 per cent slash in prices implemented in the previous month. The prices for the ATF were last revised on October 1 when the prices of the fuel were cut by Rs 5,521.17.
According to the data on the IOC website, the state with the most expensive retail of jet fuel is Kolkata, where a kilolitre of ATF comes at a price of Rs 1,27,023.83. The cheapest jet fuel, comparatively, is available in Mumbai, where the jet fuel price is set at Rs 1,19,266. In Chennai, the jet fuel is retailing at Rs 1,24,998.48 per kilolitre. The variation in prices among states is due to the incidence of local taxes levied by the particular state. The last reduction in fuel prices, witnessed in October, was believed to be the consequence of the global commodity prices softening. The ATF prices are revised every fortnight. The next change will now be announced on the 16th of this month.
While an uptick was witnessed in the prices of the aviation turbine fuel, the rates of the commercial LPG cylinders was slashed for the seventh time in a row. Following the last increase in prices of the 19 kilogram LPG cylinder in May, the prices are on a downward trend. The oil marketing companies decided to reduce the prices of the commercial LPG cylinders by Rs 115.5 per unit. After factoring in the latest reduction, the prices of the LPG cylinders are down by Rs 610 overall.