ATF prices hiked by 2.75%, LPG reduced by Rs 102.5

On firming worldwide oil prices, the price of jet fuel, or ATF, has been raised by 2.75 percent, reversing a downward trend from last month, while the price of cooking gas, or LPG, has fallen for the first time since October. According to a price notification from state-owned fuel dealers, the price of aviation turbine fuel (ATF) has been increased by Rs 2,039.63 per kilolitre, or 2.75 percent, to Rs 76,062.04 per kilolitre in the national capital.

The rate hike follows two rounds of price cuts in December, which were prompted by a reduction in worldwide oil prices in the second part of November and early December.

Following that, international rates have firmed, resulting in an increase in the price of ATF.

The price of ATF peaked at Rs 80,835.04 per kl in mid-November before being dropped by Rs 6,812.25 per kl, or 8.4%, on December 1 and 15.

Every month on the 1st and 16th, jet fuel prices are adjusted depending on the average international benchmark price for the previous fortnight.

Unlike ATF, commercial LPG rates are changed on the first of every month, based on the previous month's average price.

A 19-kg LPG cylinder, which is used in commercial enterprises like as hotels and restaurants, has been reduced by Rs 102.5 as a result.

This is the first time since October 6 that the price has been reduced. On December 1, rates had risen from Rs 1,734 to Rs 2101 per 19-kg cylinder.

LPG used in domestic kitchens, on the other hand, remains unchanged at Rs 899.50 per 14.2-kg cylinder. This rate has been unchanged since October 6, after rising by about Rs 100 since July 2021.

Petrol and diesel prices have been unchanged for nearly two months. In Delhi, a litre of petrol costs Rs 95.41 and a litre of diesel costs Rs 86.67.

While the rates will be adjusted daily based on a 15-day rolling average of the benchmark international gasoline, prices have remained unchanged since the Union government reduced excise duty on the two fuels on November 4, 2021.

After the Union government cut excise duty on petrol by Rs 5 per litre and diesel by Rs 10 per litre, prices fell from an all-time high on November 4, 2021.

States also reduced local sales taxes or VAT on the two fuels, with some BJP-ruled states doing so on the same day and others doing so at different times. The base rates, aside from these two, have stayed unaltered.

On November 3, 2017, petrol cost Rs 110.04 per litre in Delhi, while diesel cost Rs 98.42 per litre. After a reduction in excise duty and VAT, this is the current rate.