ECONOMY

Jet Fuel Price Cut by 3 Per Cent

In the first reduction in rate in two months, jet fuel or ATF price on Thursday was cut by 3 per cent in line with softening international crude oil prices. Aviation turbine fuel (ATF) price was reduced by Rs 1,887 per kilolitre, or 3 per cent, to Rs 58,374.16 per kl in the national capital, according to a price notification of state-owned fuel retailers. This is the first reduction in rates after four rounds of increase since February.


Rates were increased by Rs 3,246.75 per kl on February 1, followed by a 3.6 per cent hike on February 16, and a steep 6.5 per cent rise on March 1. On March 16, prices were again raised by Rs 860.25 per kl. On Thursday, a Rs 10 per cylinder reduction in the price of domestic cooking gas LPG also came into effect. The reduction followed four rounds of increase, totaling Rs 135 per 14.2-kg cylinder, in as many weeks. A 14.2-kg subsidised and non-subsidised LPG cylinder now costs Rs 809 in the national capital.


Meanwhile, petrol and diesel prices remained unchanged for the second day in a row after three reductions in a week. The reductions totaled 60-61 paise per litre. Petrol now costs Rs 90.56 per litre in Delhi, down from a record high of Rs 91.17, and a litre of diesel comes for Rs 80.87. While petrol and diesel prices are revised on a daily basis, ATF and LPG rates are revised on the 1st and 16th of every month. Central and state taxes make up for 60 per cent of the retail selling price of petrol and over 54 per cent of diesel. The union government levies Rs 32.90 per litre of excise duty on petrol and Rs 31.80 a litre on diesel.

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