This is the first reduction since October 6. On December 1, the prices had increased to Rs 2,101 from Rs 1,734 per 19 kg cylinder.
Continuing last month’s declining trend, the price of jet fuel or ATF has been hiked by 2.75% on firmness in international oil prices, while the rate of cooking gas (LPG) has seen its first fall since October.
Aviation Turbine Fuel (ATF) price in the national capital has been increased by ₹ 2,039.63 per kl or 2.75% to ₹ 76,062.04 per kl, according to a price notification from state-owned fuel retailers.
The rate hike follows two rounds of price cuts in December, reflecting a fall in international oil prices in the second half of November and mid-December.
Subsequently, international rates have firmed up, leading to a rise in ATF prices.
The ATF price had touched Rs 80,835.04 per kl in mid-November, before a total cut of Rs 6,812.25 per kl or 8.4 per cent on December 1 and 15.
Jet fuel prices are revised on 1st and 16th of every month based on the average price of international benchmarks over the last fortnight.
Unlike ATF, commercial LPG rates are revised on the 1st of every month after taking the average price in the previous month.
The price of 19 kg LPG cylinder used in commercial establishments like hotels and restaurants has been cut by Rs 102.5.
This is the first reduction since October 6. On December 1, the prices had increased to Rs 2,101 from Rs 1,734 per 19 kg cylinder.
However, the price of LPG used in domestic cooking remains unchanged at ₹899.50 per 14.2 kg cylinder. This rate has not changed since October 6, before it increased by around ₹100 from July 2021.
Petrol and diesel prices have also remained unchanged for almost two months now. Petrol in Delhi costs Rs 95.41 per liter and diesel costs Rs 86.67 per liter.
While the rates are to be revised on a daily basis based on the 15-day rolling average of the benchmark international fuel, there has been no change in prices since November 4, 2021, when the central government cut excise duty on the two fuels.
On November 4, 2021, after the central government cut the excise duty on petrol by Rs 5 per liter and diesel by Rs 10 per liter, the prices were reduced to an all-time high. States also cut local sales tax or VAT on two fuels – on the same day in BJP-ruled states and some others on different dates thereafter. But apart from these two, there has been no change in the base rate.
On November 3, 2017 the price of petrol in Delhi was Rs 110.04 per liter and that of diesel was Rs 98.42 per litre. Existing rate after deduction of excise duty and VAT.