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LATEST NEWS UPDATES | Jet fuel price hiked by 6%; LPG costlier by Rs 1.50 a cylinder

Jet fuel price hiked by 6%; LPG costlier by Rs 1.50 a cylinder

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published Published on Oct 2, 2017   modified Modified on Oct 2, 2017
-PTI

NEW DELHI: Jet fuel or ATF price was on Sunday hiked by a steep 6 per cent on firming international rates, the third straight increase in rates since August.

Aviation turbine fuel (ATF) will now cost Rs 53,045 per kilolitre (kl) in Delhi, Rs 3,025 per kl more than Rs 50,020 previously, according to a price hike notification by Indian Oil Corp, the nation's biggest fuel retailer.

This is the third consecutive monthly hike in ATF price, the last being by 4 per cent (Rs 1,910 per kl) on September 1.

Also, cooking gas (LPG) price was hiked by Rs 1.50 per cylinder in line with the government decision to raise rates every month to to eliminate subsidies by March.

A subsidised 14.2-kg LPG cylinder will from Sunday will cost Rs 488.68 in Delhi as against Rs 487.18 previously, IOC said.

The hike comes on back of over Rs 7 per cylinder increase effected from September 1.

Oil minister Dharmendra Pradhan had on July 31 told the Lok Sabha that the government had asked state-run oil firms to raise subsidised cooking gas (LPG) prices by up to Rs 4 per cylinder every month to eliminate all the subsidies by March next year.

Rates were, however, raised by Rs 2.31 per cylinder on August 1 and the oil companies effected a large hike on September 1 to equalise that, sources said.

Since the implementation of the policy of monthly increases from July last year, subsidised LPG rates have gone up by over Rs 69.50 per cylinder. A 14.2-kg LPG cylinder was priced at Rs 419.18 in June 2016.

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The Times of India, 1 October, 2017, http://timesofindia.indiatimes.com/business/india-business/jet-fuel-price-hiked-by-6-lpg-costlier-by-rs-1-50-a-cylinder/articleshow/60900584.cms?from=mdr


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