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Aviation turbine fuel hikes up by 8.5 %, but commercial LPG reduces by Rs 100

EconomyAviation turbine fuel hikes up by 8.5 %, but commercial LPG reduces by Rs 100

Aviation turbine fuel prices experienced a significant increase of 8.5 percent, marking the second hike in a month.

This rise follows a period of four months during which global rates had been declining. The price surge amounted to Rs 7,728.38 per kilolitre, bringing the cost to Rs 98,508.26 per kl in the national capital, as stated in a notification from state-owned fuel retailers. The varying rates from state to state are determined by local sales tax or VAT.

On the other hand, commercial LPG rates saw a reduction of Rs 100 per cylinder. Commercial LPG is used in establishments such as hotels and restaurants, and the revised price in the national capital stands at Rs 1,680 for a 19-kg cylinder. This reduction comes in line with the downward trend in the international benchmark, Saudi contract price (CPP), which has been affecting LPG prices domestically.

The upward trend in global crude oil prices resulted in higher jet fuel prices worldwide, leading to the necessary hike in ATF rates. The recent increase of 8.5 percent is in addition to a previous 1.65 percent or Rs 1,476.79 per kl increase that took place on July 1.

In contrast, the price of domestic LPG, used for cooking purposes, remained unchanged at Rs 1,103 per 14.2-kg cylinder in the national capital. This rate has not been revised since March 1 when it was raised by Rs 50 per cylinder.

Petrol and diesel prices, however, have remained unchanged for a record 16 months. Petrol costs Rs 96.72 per litre, while diesel is priced at Rs 89.62 in the national capital. Although state-owned fuel retailers are supposed to adjust these prices daily based on a 15-day rolling average of benchmark international fuel prices, they have not done so since April 6, 2022. The last change in prices occurred on May 22 when the government cut excise duty to ease the burden on consumers due to the surge in international oil prices.

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