The oil marketing companies (OMCs) on Thursday slashed jet fuel prices by 4.4%, marking the second significant cut within a month. Additionally, the price of commercial LPG was reduced by Rs 14.50 per cylinder, in alignment with international benchmarks.
The price of Aviation Turbine Fuel (ATF) was reduced by Rs 3,954.38 per kilolitre, bringing it down to Rs 85,486.80 per kl in Delhi.
Earlier, the OMCs had reduced ATF prices by 6.15%, or Rs 5,870.54 per kl, effective April 1. These reductions have effectively offset the price increases that occurred earlier this year.
In Mumbai, the ATF price was lowered to Rs 79,855.59 per kl from Rs 83,575.42, while rates in Chennai and Kolkata dropped to Rs 88,494.52 and Rs 88,237.05 per kl, respectively.
The OMCs also cut the price of commercial LPG by Rs 14.50 per 19-kg cylinder. Following the revision, the price of a commercial LPG cylinder stands at Rs 1,747.50 in Delhi and Rs 1,699 in Mumbai. This follows a Rs 41 per cylinder cut implemented on April 1. Prices of ATF and LPG vary across states depending on local taxes, including VAT.
However, the cost of cooking gas used in households remained unchanged at Rs 853 per 14.2-kg cylinder. The government had raised the price of domestic LPG by Rs 50 per cylinder last month.
State-run Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL) revise ATF and cooking gas prices on the first of every month, based on international fuel benchmarks and foreign exchange rates.