ATF price up 1.6% on global cues

Image used for representational purpose only.
| Photo Credit: V.V. Krishnan

Jet fuel or Aviation Turbine Fuel (ATF) price on July 1 was hiked by 1.65% – the first increase in rate after fourth months of reduction warranted by softening oil prices.

ATF price was increased by ₹1,476.79 per kilolitre, or 1.65%, in the National Capital to ₹90,779.88 per kl, 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.

Also read: Commercial LPG cylinder price cut by ₹171.5; ATF by 2.45%

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 ₹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 ₹1,773 in the National Capital, the rate went up by ₹8.50 per cylinder to ₹1,733.50 in Mumbai.

The price was increased by ₹20 per cylinder to ₹1,895 in Kolkata and by ₹8 to ₹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 ₹346.5 per 19-kg cylinder. The price of domestic LPG – used in the kitchen for cooking purposes – remained unchanged at ₹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 ₹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 ₹96.72 per litre in the National Capital and diesel comes for ₹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.