Oil marketing firms hike jet fuel prices by nearly 6%, cut non-subsidised LPG prices by Rs 11

Making their monthly price revisions, state-run oil marketing companies on Friday hiked the price of Aviation Turbine Fuel (ATF) by 5.5% but cut that of non-subsidised LPG by Rs 11 per cylinder in the wake of lower global prices.

The price of ATF, or jet fuel, in Delhi was increased by Rs 2,557.7 per kilolitre (kl) -- or 5.47% -- to Rs 49,287.18.

ATF rates vary at different airports because of differential local taxes.

The previous increase in jet fuel prices came on June 1, when these were hiked by a steep 9.2%, or Rs 3,945.47, to Rs 46,729.48 per kilolitre.

In five increases over successive months, ATF rates have gone up by 25%.

Instead, the oil marketing companies on Friday cut prices of non-subsidised LPG (cooking gas), which consumers buy after exhausting their quota of subsidised LPG, by Rs 11 to Rs 537.50 per 14.2 kg cylinder in Delhi.

A consumer gets 12 subsidised LPG cylinders in year. A subsidised LPG cylinder is currently available for Rs 421.16 in Delhi.

The oil marketing companies have also cut the price of other transport fuels from Friday by under a rupee each, of petrol by 89 paise a litre and of diesel by 49 paise, both at Delhi with corresponding decrease in other states.

Amid the recent fluctuation in global crude oil prices, the Indian basket of crude closed trade on Wednesday at $46.80 for a barrel of 159 litres, up from its previous day close at $46.11, as per available data.