NEW DELHI, 1 FEB

 The price of Jet fuel, or ATF, on Saturday was hiked by a steep 5.6 per cent while the rate of commercial LPG that is used in hotels and restaurants was cut by Rs 7 per 19-kg cylinder in the monthly revision done in line with the benchmark international prices.

The aviation turbine fuel (ATF) price was increased by Rs 5,078.25 per kilolitre, or 5.6 per cent, to Rs 95,533.72 per kl in the national capital - home to one of the busiest airports in the country, according to state-owned fuel retailers.

The hike follows a reduction in rates by 1.5 per cent in the previous revision on 1 January.

Prior to that, prices were increased twice - Rs 2,941.5 per kl (3.3 per cent) on 1 November, and by Rs 1,318.12 per kl (1.45 per cent) on 1 December, 2024.

The ATF price in Mumbai was increased to Rs 89,318.90 on Saturday, from Rs 84,511.93 per kl previously.

Oil firms also reduced the price of commercial LPG by Rs 7 to Rs 1,797 per 19-kg cylinder in the national capital.

This the second reduction in the rate after five straight monthly hikes in commercial LPG price. The price was cut by Rs 14.5 per 19-kg cylinder at the last revision on 1 January, 2024.

In five price hikes prior to the two rounds of cuts this year, commercial LPG rate had been hiked by Rs 172.5 per 19-kg cylinder.

Commercial LPG now costs Rs 1,749.50 per 19-kg cylinder in Mumbai, Rs 1,907 in Kolkata and Rs 1,959.50 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 ahead of the general elections. Petrol costs Rs 94.72 a litre in Delhi, while diesel is priced at Rs 87.62.