Jet fuel prices go up by 1.6% on global cues

New Delhi: Jet fuel or ATF price on Saturday was hiked by 1.65 percent -- the first increase in rate after fourth months of reduction warranted by softening oil prices.

Aviation Turbine Fuel (ATF) price was increased by Rs 1,476.79 per kilolitre, or 1.65 percent, in the national capital to Rs 90,779.88 per kilolitre, according to a price notification of state-owned fuel retailers.

Rates, which vary from state to state depending on incidence of local sales tax or VAT, have been increased on firming up of global rates that followed four months of decline.

Jet fuel prices had been cut on previous four monthly revisions that happen on the first of every month. ATF prices were last reduced by Rs 6,632.25 per kl on June 1.

Prices of commercial LPG, used in establishments such as hotels and restaurants, remained unchanged in Delhi but were marginally increased in Mumbai, Kolkata and Chennai.

While the price of a 19-kg commercial LPG cylinder was unchanged at Rs 1,773 in the national capital, the rate went up by Rs 8.50 per cylinder to Rs 1,733.50 in Mumbai.

The price was increased by Rs 20 per cylinder to Rs 1,895 in Kolkata and by Rs 8 to Rs 1,945 per 19-kg cylinder in Chennai. The rate change was primarily because of local incidence of taxes and transportation, industry officials said.

Commercial LPG rates were cut on three previous monthly revisions. In three cuts, prices had gone down by Rs 346.5 per 19-kg cylinder. The price of domestic LPG -- used in the kitchen for cooking purposes -- remained unchanged at Rs 1,103 per 14.2-kg cylinder in the national capital.

Domestic LPG rates were last changed on March 1, when they were hiked by Rs 50 per cylinder. State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise cooking gas and ATF prices on the 1st of every month based on the average international price in the previous month.

Petrol and diesel prices continued to remain on freeze for a record 15th month in a row. Petrol costs Rs 96.72 per litre in the national capital and diesel comes for Rs 89.62.

State-owned fuel retailers are supposed to revise petrol and diesel prices daily based on a 15-day rolling average of benchmark international fuel prices but they haven't done that since April 6, 2022.

Prices were last changed on May 22, when the government cut excise duty to give relief to consumers from a spike in retail rates that followed a surge in international oil prices.

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