Follow us on
Welcome Guest! You are here: Home » Business & Economy
Jet fuel, non-subsidized-LPG rates cut sharply
Thursday January 1, 2015 7:42 PM, IANS

In major relief for the country's beleaguered airlines industry, jet fuel (ATF) rates were Thursday cut by a steep 12.5 percent with international oil prices continuing to plunge going below $55 a barrel.

However, there was no reduction in the prices of petrol and diesel, as was indicated earlier in the day.

The price of aviation turbine fuel (ATF), or jet fuel, at Delhi was cut by Rs.7,520.52 per kilolitre, or 12.5 percent, to Rs.52,422.92 per kl, state-run Indian Oil Corp announced.

State-owned fuel retailers revise jet fuel prices on the 1st of every month based on average imported cost and the rupee-US dollar exchange rate.

Prices have also been cut for the non-subsidised LPG cylinder, that a consumer may buy at market rates after exhausting the quota of 12 cooking gas cylinders, by Rs.43.50 in Delhi.

The new year's price per 14.2 kg cylinder is Rs.708.50 in Delhi, Rs.725.50 in Mumbai, Rs.746 in Kolkata and Rs.705 in Chennai.

Non-subsidized LPG was last cut on 1 December by a steep Rs.113 per cylinder. In six monthly reductions, non-domestic LPG rates have been reduced by Rs.214 per cylinder, bringing the price to a three-year low.

However, the price cut on transport fuels that consumers were expecting on New Year has not been effected for the moment, IOC sources said.

The source said that owing to some problems with the server, dates and data were being reflected erroneously earlier Thursday on the company's website, which has now been rectified.

Earlier, to make up for fall in taxes due to the sustained decline in international crude oil prices, the government hiked excise duty by Rs.1.50 a litre on both the fuels first on Nov 12. Later, on Dec 2, the duty on petrol was hiked by Rs.2.25 per litre and on diesel by Re.1 a litre.

Though consumers have been spared the impact of the excise hike, the government has faced criticism that it was preventing the benefit of falling oil prices from passing to consumers.




 

Share this page
 Comments
Note: By posting your comments here you agree to the terms and conditions of www.ummid.com
comments powered by Disqus
Advertisement
| Quick links
About ummid.com
Contact us
Feedback
Subscribe to: RSS » Facebook » Twitter » Newsletter
Ummid.com: Disclaimer | Terms of Use | Advertise with us | Link Exchange
Ummid.com is part of the Awaz Multimedia & Publications providing World News, News Analysis and Feature Articles on Education, Health. Politics, Technology, Sports, Entertainment, Industry etc. The articles or the views displayed on this website are for public information and in no way describe the editorial views. The users are entitled to use this site subject to the terms and conditions mentioned.
© 2012 Awaz Multimedia & Publications. All rights reserved.