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Oil marketing companies (OMCs) — Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation — on Friday cut the price of non-subsidised cooking gas or liquefied petroleum gas (LPG) by Rs 5 a cylinder in line with the trend in global prices in the past month.
Each 14.2-kg market-priced cylinder will now cost Rs 616 in Delhi, Rs 627.50 in Mumbai, Rs 649 in Kolkata and Rs 608.50 in Chennai. The last price revision was on April 1, when the prices were revised upwards by Rs 11.
Consumers are currently entitled to 12 subsidised cylinders of 14.2 kg each priced at Rs 417 in Delhi. Any requirement beyond this has to be met through market-priced LPG cylinders.
The three OMCs have also increased the price of jet fuel or aviation turbine fuel (ATF) by 0.5 per cent or Rs 272 to Rs 49,609.84 a kilo litre in Delhi. ATF prices, which account for up to 40 per cent of the operating costs of an airline, were last revised downwards by two per cent last year.
The OMCs had on Thursday also revised petrol and diesel prices through an increase of Rs 3.96 a litre and Rs 2.37 a litre, respectively. After the revision, petrol is priced at Rs 63.16 a litre and diesel costs Rs 49.57 a litre in Delhi. Meanwhile, the petroleum ministry on Friday announced that OMCs’ losses on subsidised sales of LPG have come down 2.4 per cent to Rs 198.18 a cylinder in May from Rs 203.18 a cylinder last month.
The three retailers are losing Rs 16.32 on every litre of kerosene sold through the public distribution system (PDS), against a loss of Rs 15.73 a litre last month.
OMCs’ gross under-recoveries nearly halved to Rs 72,314 crore in 2014-15 from Rs 1,39,869 crore in the previous financial year.
