Economy News

ATF price up 1.6% on global indices – Mintpaisa

Image used for representational purposes only.

Image used for representational purposes only. | Photo credit: VV Krishnan

On July 1, the price of jet fuel or aviation turbine fuel (ATF) rose 1.65% – the first rate increase after four months of reductions driven by lower oil prices.

The price of ATF has been increased by ₹1,476.79 per kilolitre, or 1.65%, in the nation’s capital to ₹90,779.88 per kl, according to a price notification from fuel retailers belonging to the State.

The rates, which vary from state to state depending on the incidence of local sales tax or VAT, were increased as global rates firmed after four months of declines.

Also Read: Reduced Price of Commercial LPG Cylinders from ₹171.5; 2.45% ATF

Kerosene prices had been reduced in the previous four monthly reviews which occurred on the first of each month. ATF prices were last reduced by ₹6,632.25 per kl on June 1.

Prices for commercial LPG, used in establishments such as hotels and restaurants, remained unchanged in Delhi but rose slightly in Mumbai, Kolkata and Chennai.

While the price of a 19kg commercial LPG cylinder remained unchanged at ₹1,773 in the nation’s capital, the tariff increased 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 due to the local incidence of taxes and transportation, industry officials said.

Commercial LPG tariffs have been reduced in the previous three monthly reviews. In three cuts, prices had dropped 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 14.2kg cylinder in the nation’s capital.

National LPG tariffs were last changed on March 1, when they were increased by ₹50 per cylinder. State-owned companies 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 of last month.

Gasoline and diesel prices continued to freeze for a record 15th consecutive month. Petrol costs ₹96.72 per liter in the nation’s capital and diesel costs ₹89.62.

State-owned fuel retailers are supposed to revise petrol and diesel prices daily based on a 15-day moving average of international benchmark fuel prices, but have not done so since. April 6, 2022.

Prices were last changed on May 22, when the government reduced excise duties to relieve consumers of a spike in retail rates that followed a spike in international oil prices.


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