Non-subsidised LPG, jet fuel prices slashed

Price of non-subsidised cooking gas (LPG) was cut by a steep Rs 113 per cylinder on Monday and that of Aviation Turbine Fuel (ATF) by 4.1 per cent as international oil rates slumped to multi-year lows.

A 14.2-kg cylinder of non-subsidised LPG will now cost Rs 752, down from Rs 865, in Delhi, oil companies announced on Monday.

This is the fifth straight reduction in rates of non-subsidised or market priced LPG, which consumers buy after exhausting their quota of 12 cylinders at subsidised rates, since August.

In five monthly reduction, non-domestic LPG rates have been slashed by Rs 170.5 per cylinder, bringing the price to a three-year low.

On similar lines, the price of ATF or jet fuel was cut by Rs 2,594.93 per kilolitre (kl), or 4.1 per cent, to Rs 59,943 per kl in Delhi. This is the fifth straight monthly reduction in rates.

This reduction follows a steep 7.3 per cent or Rs 4,987.7 per kl cut in prices on November 1.

Since August, ATF prices have been cut by 14.5 per cent or Rs 10,218.76 per kl and rates have dipped below Rs 60,000 per kl level for the first time in three years.

Brent, the benchmark grade for more than half of the world’s oil, have dropped to $68.34 a barrel, the lowest since October 2009. Prices declined 18 per cent last month and are 38 per cent lower in 2014.

In Mumbai, jet fuel will cost Rs 61,695 per kl from Monday as against Rs 64,414.98 per kl previously. The rates vary because of differences in VAT.