On August 1, New Delhi witnessed a significant reduction in commercial LPG prices, with a cut of Rs 192 per 19-kg cylinder, while aviation turbine fuel (ATF) prices saw a hike of Rs 5 per litre. The new price of a 19-kg commercial LPG cylinder in Delhi stands at Rs 2,738, down from Rs 2,930. Meanwhile, ATF rates have increased to Rs 115 per litre from Rs 110, as per the latest price update from state-owned oil firms.
This marks the second consecutive monthly decrease in commercial LPG rates, following a reduction of Rs 183.5 on July 1. In contrast, the revision in ATF prices reverses the reduction implemented on July 1. The commercial LPG rate cuts on July 1 and August 1 come after the West Asia crisis led to record-high rates in June. The price of a 5-kg market-priced LPG cylinder has also been cut to Rs 762 from Rs 808.50.
Domestic LPG prices remain unchanged at Rs 942 per 14.2-kg cylinder. A.S. Sahney, Chairman of Indian Oil Corporation, highlighted that there is an under-recovery of Rs 503 per 14.2 kg domestic LPG cylinder, as rates are below cost. Petrol and diesel prices, which were increased by about Rs 7.50 a litre each in May, also remain unchanged.
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📰 Source: Siasat Gulf