State-owned oil marketing companies raise commercial prices of LPG and jet fuel | Today’s news
New Delhi: India’s state-owned oil marketing companies (OMCs) have hiked the prices of commercial cooking gas and aviation turbine fuel (ATF) amid persistently high international oil prices due to the ongoing conflict in West Asia.
Prices are rising
With effect from November 1, oil companies have increased the price of a 19kg commercial liquefied petroleum gas (LPG) cylinder by ₹10 to ₹2,820. The price of aviation fuel for turbines also increased ₹1.37 per liter ₹138.50, according to the updated price list of government fuel dealers.
The hike in commercial LPG prices comes at a time when restaurants, hotels, catering establishments and food outlets usually see a surge in demand during the festive season.
However, there is no change in the price of domestic LPG, which remains at ₹942 for a cylinder weighing 14.2 kg. Gasoline and diesel prices also remained unchanged.
This is the third monthly increase in commercial LPG prices in a row. Prices were increased by ₹9.50 per 19kg cylinder in September and later ₹62.50 in October. The latest increase follows two consecutive monthly decreases ₹183.50 in July and ₹192 in August.
Commercial LPG prices have risen sharply ₹1,373 per cylinder between February and June ₹1,740.50 for the record ₹3,113.50 before decreasing in the next two months.
Meanwhile, the ATF price increase marks the fourth consecutive monthly price increase. Jet fuel prices were increased by ₹5 per liter in August, ₹6.28 in September and ₹16 in October before the last increase. ATF accounts for up to 40% of an airline’s operating costs, so continued increases put further cost pressure on carriers.
The latest revisions reflect movements in international benchmark prices and the rupee to dollar exchange rate. Commercial LPG and ATF prices are revised on the first day of every month and may vary from state to state due to local taxes.
