The prices for aviation turbine fuel (ATF) and commercial LPG have seen notable increases in the latest monthly revision, reflecting global oil price trends.
Jet Fuel Price Hike
Aviation turbine fuel (ATF) has been increased by ₹1,827.34 per kilolitre (kl), bringing the new price to ₹97,975.72 per kl. This adjustment follows a previous hike of 1.2 per cent (₹1,179.37 per kl) in July. Notably, there was a significant reduction of 6.5 per cent (₹6,673.87 per kl) on June 1. The latest hike marks the second consecutive monthly increase in ATF rates. In Mumbai, the ATF price has risen to ₹91,650.34 per kl, up from ₹89,908.31 previously. These prices can vary from state to state due to local tax impacts.
Commercial LPG Price Adjustment
The rate for a 19-kg commercial LPG cylinder has been raised by ₹6.5, bringing the new price to ₹1,652.50. This increase comes after four months of reductions, which had previously lowered the price by ₹148 per cylinder. The revised prices now stand at ₹1,605 per cylinder in Mumbai, ₹1,764.50 in Kolkata, and ₹1,817 in Chennai.
Price Revision Process
These price adjustments are made on the first of every month by state-owned fuel retailers, including Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL). The revisions are based on the average prices of benchmark international fuels and fluctuations in foreign exchange rates.
Summary
The increases in ATF and LPG prices reflect broader trends in global oil markets and adjustments in local tax regimes. Consumers and industry stakeholders should anticipate further fluctuations as international fuel prices and exchange rates continue to evolve.