Economy

Jet fuel price hiked by 6%, cooking gas gets Rs 1.50 costlier

Jet fuel price hiked by 6%, cooking gas gets Rs 1.50 costlier”

In the third steep increase in fuel rates since August, Jet fuel or Aviation Turbine Fuel (ATF) price on Sunday hiked by 6 percent on firming global rates.

The hike in ATF or the jet fuel hike is the third straight increase in rates since August.

The ATF would now cost Rs 53, o45 per kilolitre, which is almost Rs 3,025 costlier than the incumbent rate prevailing in Delhi-NCR region.

The constant hike in LPG rates is in line with government's target of eliminating subsidy on the cylinders by March 2018.

A subsidised 14.2-kg LPG cylinder will from today cost ₹488.68 in Delhi as against ₹487.18 previously, International Olympic Committee said.

The price of non-subsidised LPG, which consumers buy at market rates after exhausting their subsidised quota of 12 cylinders, was also raised by Rs 1.50 to Rs 599 per cylinder. The new prices will come into effect from midnight.

Oil companies had hiked LPG rates on 10 occasions since that go-ahead.

The jet fuel will now cost Rs 53,045 kilotires in Delhi according to price hike notification by Indian Oil Corp - India's biggest fuel retailer.

Now, the quantum has been doubled so as to bring down the subsidy to nil. A 14.2-kg LPG cylinder was priced at ₹419.18 in June 2016. While Rs 50 has been hiked for non-subsidised LPG cylinders.

This hike was because of the May 30 order as well as reflection of hiked tax rates under the Goods and Services Tax (GST) regime.



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