New Delhi: The price of Jet fuel, or ATF, on Tuesday was cut by a steep 6.1 per cent and the rates of commercial LPG that is used in hotels and restaurants were reduced by Rs 41 per 19-kg cylinder in the monthly revision done in line with benchmark international prices.
The Aviation Turbine Fuel (ATF) price was reduced by Rs 5,870.54 per kilolitre, or 6.15 per cent, to Rs 89,441.18 per kl in the national capital - home to one of the busiest airports in the country, according to state-owned fuel retailers.
The reduction negates the increase in prices effected since February.
The ATF price in Mumbai was cut to Rs 83,575.42, while those in Chennai and Kolkata were reduced to Rs 92,503.80 and Rs 91,921 per kl, respectively, from Rs 84,511.93 per kl previously.
Oil firms also reduced the price of commercial LPG by Rs 42 to Rs 1,762 per 19-kg cylinder in the national capital.
This reduction follows a Rs 6 per cylinder hike effected on March 1.
Commercial LPG now costs Rs 1,713.50 per 19-kg cylinder in Mumbai, Rs 1,868.50 in Kolkata and Rs 1,921.50 in Chennai.
Prices of ATF and LPG differ from state to state depending on the incidence of local taxes, including VAT.
The rate of cooking gas used in domestic households, however, remained unchanged at Rs 803 per 14.2-kg cylinder.
State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) revise prices of ATF and cooking gas on the first of every month based on the average price of benchmark international fuel and foreign exchange rate.
Prices of petrol and diesel continue to remain frozen. Rates had been cut by Rs 2 per litre in mid-March last year, ahead of the general elections. Petrol costs Rs 94.72 a litre in Delhi, while diesel is priced at Rs 87.62.