New Delhi: Price of non-subsidised cooking gas (LPG) was Tuesday hiked by Rs 16.50 per cylinder and that of jet fuel by over half-a-percent after international oil prices surged due to the ongoing Iraq crisis. The increase in rates of non-subsidised LPG and ATF accompanies the Rs 1.69 a litre hike in petrol and 50 paisa a litre in diesel announced yesterday.
The price of non-subsidised LPG, which customers buy after using up their quota of 12 subsidised cylinders, was raised by Rs 16.50 per 14.2-kg cylinder, the first hike in six months. Each non-subsidised 14.2-kg cooking gas cylinder will now cost Rs 922.50 in Delhi, up from Rs 906, according to Indian Oil Corp (IOC), the nation’s largest oil firm.
Non-subsidised LPG rates were last month cut by Rs 23.50 per cylinder. A subsidised LPG cylinder in Delhi costs Rs 414.Today’s hike breaks the declining trend that started in February with a Rs 107 cut in rates to Rs 1,134 per cylinder.
In Mumbai, jet fuel costs Rs 72,411.21 per kl as against Rs 71,940.36 per kl previously, IOC said. The rates vary because of differences in local sales tax or VAT. Jet fuel constitutes over 40 percent of an airline’s operating costs and the price hike will increase the financial burden of cash-strapped carriers.
The three fuel retailers — IOC, Hindustan Petroleum Corp and Bharat Petroleum Corp — revise jet fuel and non-subsidised LPG prices on the first of every month, based on the average international prices in the preceding month.
Bureau Report
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