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LPG rate cut by Rs 113, aviation fuel prices by 4.1 per cent

Monday, Dec 1, 2014,21:27 IST By metro vaartha A A A

New Delhi | Price of nonsubsidised cooking gas (LPG) was today cut by a steep Rs 113 per cylinder and that of jet fuel (ATF) by 4.1 per cent as international oil rates slumped to multiyear lows. A 14.2kg cylinder of nonsubsidised LPG will now cost Rs 752, down from Rs 865 previously, in Delhi, oil companies announced today.
This is the fifth straight reduction in rates of nonsubsidised or market priced LPG, which the customers buy after exhausting their quota of 12 cylinders at subsidised rates, since August. In five monthly reduction, nondomestic LPG rates have been slashed by Rs 170.5 per cylinder, bringing the price at threeyear lows. On similar lines, the price of aviation turbine fuel (ATF), or jet fuel, at Delhi was cut by Rs 2,594.93 per kilolitre, or 4.1 per cent, to Rs 59,943 per kl.
This is the fifth straight monthly reduction in rates. This reduction follows a steep 7.3 pr cent or Rs 4,987.7 per kl, cut in prices on November 1. Since August, ATF prices have been cut by 14.5 per cent or Rs 10,218.76 per kl and rates have dipped below Rs 60,000 per kl level for the first time in three years.
Brent, the benchmark grade for more than half of the world’s oil, have dropped to USD 68.34 a barrel, the lowest level since October 2009. Prices declined 18 per cent last month and are 38 per cent lower in 2014. In Mumbai, jet fuel will cost Rs 61,695 per kl from today as against Rs 64,414.98 per kl previously. The rates vary because of differences in local sales tax or VAT.

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