 "Commercial LPG rates cut by ₹14.50, price of jet fuel cut by 4.4%")
Commercial LPG prices on Thursday were lowered by ₹14.50 per cylinder, reflecting global price trends. Jet fuel (ATF) prices were cut by 4.4 per cent, marking the second major reduction in a month.
In March, oil marketing companies had raised the price of commercial LPG cylinders by ₹6 nationwide. The cost of a 19-kg commercial cylinder in Delhi had increased from ₹1,797 to ₹1,803.
Prices for 14.2-kg domestic LPG cylinders have remained unchanged since August 2024.
In Delhi, where one of India's busiest airports is located, ATF prices dropped by ₹3,954.38 per kilolitre to ₹85,486.80 per kilolitre, according to state-run fuel retailers. The reduction in rates follows a steep 6.15 per cent (Rs 5,870.54 per kilolitre) reduction effected on April 1.
The price adjustment will directly benefit restaurants, hotels, and other commercial establishments that use these LPG cylinders for daily operations. It will also offer relief to small businesses heavily reliant on commercial LPG for their functioning. LPG prices differ across states, depending on the local taxes and transportation costs.
The previous revisions came on April 1, when commercial LPG prices were slashed by ₹41. Oil companies revise the prices of commercial LPG cylinders regularly, based on several factors, including international crude oil prices. Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) adjust the prices of ATF and cooking gas on the first of each month, based on the average price of international fuel benchmarks and the foreign exchange rate.
Although international oil prices have declined, domestic petrol and diesel prices remain unchanged. The rates were reduced by Rs 2 per litre in mid-March last year, ahead of the Lok Sabha elections. Currently, petrol is priced at Rs 94.72 per litre in Delhi, while diesel costs Rs 87.62.