New Delhi: Aviation turbine fuel (ATF) price has been cut by over 5%, reversing a two-month rising trend, while rates of subsidised LPG were hiked by Rs5.57 per cylinder.
Also, the rate of non-subsidised cooking gas (LPG) has been cut by Rs14.50 per cylinder in line with international trends.
Price of jet fuel or ATF was cut by Rs2,811.38 per kilolitre, or 5.1%, to Rs51,428 per kl with effect from 1 April , oil companies said. The reduction comes on the back of a marginal hike of Rs214 kl effected on 1 March and a 3% increase on 1 February.
Simultaneously, price of non-subsidised LPG, bought by those who have either given up their subsidies or exhausted the quota of 12 bottles of 14.2-kg in a year at below market price, was cut to Rs723 per 14.2-kg cylinder from Rs737.50. The reduction comes on back of a steep Rs86 per cylinder hike in rates from 1 March .
That was the steepest hike in recent times and came on the back of Rs66.5 per cylinder increase effected from 1 February. Rates had been on the upswing since October, 2016.
A non-subsidised LPG cylinder was priced at Rs466.50 in Delhi in September and had risen by Rs271 per bottle or 58% in six instalments.
Oil firms, however, raised price of subsidised cooking gas by Rs5.57 to Rs440.5 per 14.2-kg cylinder. This hike came as the state-owned oil firms on previous two occasions—1 February and 1 March —did not effect any significant raise in prices in view of assembly elections in states like Uttar Pradesh.
Prior to that, they had raised rates by nearly Rs2 per cylinder for eight months in line with government decision to cut subsidises through calibrated increases every month.
Oil firms revise rates of ATF and cooking gas on 1st of every month based on oil price and foreign exchange rate in the preceding month.