Commercial LPG price cut by ₹58.5; no change in domestic rates, ATF hiked by 7.5%
For the fourth time in a row, oil companies have slashed commercial LPG prices.
For the fourth time in a row, oil companies have slashed commercial LPG prices.
For the fourth time in a row, oil companies have slashed commercial LPG prices.
New Delhi: Oil companies on Tuesday slashed the price of commercial LPG cylinders by ₹58.5 with effect from July 1. A 19-kg commercial cylinder now costs ₹1,672 in Kochi and ₹1,693 in Thiruvananthapuram.
This marks the fourth consecutive reduction in commercial LPG prices. Rates were earlier cut by ₹24 on June 1, ₹14.50 on May 1, and ₹41 on April 1--amounting to a total reduction of ₹138 since April.
However, in a contrasting move, the price of aviation turbine fuel (ATF) was hiked sharply by ₹6,271.5 per kilolitre, or 7.5%, bringing the price in Delhi to ₹89,344.05 per kl. This reverses a three-month trend of declining ATF prices and reflects a rise in global crude prices following Israel’s attack on Iran last month.
ATF prices were earlier reduced by ₹2,414.25 (2.82%) on June 1, ₹3,954.38 (4.4%) on May 1, and ₹5,870.54 (6.15%) on April 1. The latest hike effectively reverses nearly half of the total reduction made since April. City-wise ATF prices now stand at ₹83,549.23 per kl in Mumbai (up from ₹77,602.73), ₹92,526.09 in Chennai, and ₹92,705.74 in Kolkata. Rates vary across cities due to differences in local taxes like VAT.
The increase is expected to weigh heavily on commercial airlines, as fuel accounts for nearly 40% of operating costs. No immediate response was available from airlines on the impact of the hike.
Meanwhile, the price of domestic LPG used in households remains unchanged at ₹853 per 14.2-kg cylinder. The last revision was a ₹50 hike in April.
State-run oil companies—Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL)—revise LPG and ATF prices on the first of every month based on the average international benchmark prices and currency exchange rates.