Jet fuel price cut for third month in a row; commercial LPG also cheaper

Domestic LPG prices for households remain unchanged at Rs 853 per 14.2-kg cylinder, after a Rs 50 hike implemented in April.

In a relief for airlines and the hospitality sector, the price of jet fuel (aviation turbine fuel or ATF) was slashed by 2.82 percent on Sunday, marking the third consecutive monthly reduction amid a decline in global oil prices. Commercial LPG prices were also reduced by Rs 24 per 19-kg cylinder.

According to state-owned oil retailers, ATF prices in Delhi dropped by Rs 2,414.25 per kilolitre to Rs 83,072.55 per kl. This follows a 4.4 percent cut in May and a steep 6.15 percent reduction in April, effectively rolling back the earlier hikes seen in the first quarter of 2024, according to PTI.

The latest ATF prices across key metros are as follows:

Mumbai: Rs 77,602.73 per kl

Chennai: Rs 86,103.25 per kl

Kolkata: Rs 86,052.57 per kl

The price cut is expected to ease cost pressures on commercial airlines, where fuel accounts for nearly 40 percent of operating expenses. However, no immediate reaction was available from airline companies.

Meanwhile, the price of commercial LPG cylinders, widely used by hotels and restaurants, has been lowered to Rs 1,723.50 in Delhi and Rs 1,647.50 in Mumbai. This reduction adds to the earlier cuts of Rs 14.50 in May and Rs 41 in April.

Despite the downward trend in international oil prices, driven by a subdued demand outlook amid global trade tensions, the retail prices of petrol and diesel remain unchanged in India. Petrol continues to cost Rs 94.72 per litre in Delhi, while diesel is priced at Rs 87.62. These rates have remained frozen since the Rs 2 per litre cut in March last year ahead of the general elections.

Domestic LPG prices for households remain unchanged at Rs 853 per 14.2-kg cylinder, after a Rs 50 hike implemented in April.

State-run Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) revise fuel prices monthly based on average international benchmarks and foreign exchange fluctuations.

(With inputs from PTI)