Jet fuel (ATF) prices were on Monday slashed by a steep 10 per cent, the second straight reduction in rates in as many months, as international oil prices slumped on fears of the spread of coronavirus.
Simultaneously, the rates of non-subsidised cooking gas (LPG) were cut by Rs 53, wiping away a third of the record Rs 144.50 per cylinder price hike effected last month, according to a price notification issued by state-owned oil firms.
Aviation turbine fuel (ATF) price was cut by Rs 6,590.62 per kilolitre (kl), or 10.3 per cent, to Rs 56,859.01 per kl in Delhi.
This is the second straight cut in ATF rates. Prices were cut by Rs 874.13 per kl with effect from February 1.
The rate of non-subsidised cooking gas (LPG) was also reduced to Rs 805.50 per 14.2-kg cylinder from Rs 858.50 previously.
Domestic LPG users are entitled to buy 12 bottles of 14.2 kg each at subsidised rates in a year. Since international oil prices have fallen, the government's subsidy payout will fall by almost Rs 50 per cylinder to Rs 240.
Cooking gas is available only at market prices across the country. Eligible users, however, get subsidy in their bank account for buying LPG cylinders at subsidised rates.
Price of 19-kg LPG cylinders, used by commercial establishment, came down to Rs 1,381.50 from Rs 1,466, the notification said.