Representative image of a commercial LPG cylinder.
Credit: iStock Photo
New Delhi: The price of commercial LPG rate was raised by Rs 111 per cylinder while aviation turbine fuel (ATF), or jet fuel, was reduced by 7.3 per cent on Thursday, as state-owned oil marketing companies implemented their monthly price revisions aligned with global fuel benchmarks.
ATF price in Delhi was cut by Rs 7,353.75 per kilolitre, or 7.3 per cent, to Rs 92,323.02 per kl, according to state-owned fuel retailers. However, the prices of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) have been reduced in select cities with effect from January 1.
Commercial LPG rates were hiked by Rs 111 per 19-kg cylinder in line with global benchmarks.
Commenting on the increase in price of commercial LPG cylinders, a statement issued by the Oil Ministry said the price of commercial LPG cylinders is market-determined and linked to international benchmarks.
"Accordingly, revisions in commercial LPG prices reflect movements in global LPG prices and associated costs. The prices of domestic LPG remain unchanged," it added.
It went on to state that to protect domestic consumers, the effective price of a 14.2 kg domestic LPG cylinder, which costs around Rs 950, is available at Rs 853 for non-PMUY domestic consumers in Delhi and Rs 553 for PMUY beneficiaries.
The reduction in ATF prices came after three rounds of monthly price hikes. The rate was last raised by Rs 5,133.75 per kl, or 5.4 per cent, on December 1. Prior to that, prices had risen by about 1 per cent on November 1 and by 3.3 per cent on October 1.
The latest reduction is expected to ease pressure on airlines, for which fuel accounts for nearly 40 percent of operating costs.
In addition, prices of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) have been reduced in select cities with effect from January 1.
This includes downward revisions in PNG prices in parts of the Delhi-NCR region and a reduction of Rs 1 each in CNG and domestic PNG prices announced by gas distribution companies. These reductions follow recent changes in pipeline tariffs and are expected to provide relief to households and vehicle users, while further promoting the adoption of cleaner fuels.