Sunday’s hike in the LPG price is the fifth since May 30 order of the oil ministry to raise rates by Rs 4 per cylinder every month. There are 18.11 cr customers of subsidised LPG.
New Delhi : Jet fuel or ATF price was today hiked by a steep 6 per cent on firming international rates, the third straight increase in rates since August. Aviation turbine fuel (ATF) will now cost Rs 53,045 per kilolitre (kl) in Delhi, Rs 3,025 per kl more than Rs 50,020 previously, according to a price hike notification by Indian Oil Corp, the nation’s biggest fuel retailer.
This the third consecutive monthly hike in ATF price, the last being by 4 per cent (Rs 1,910 per kl) on September 1. Also, cooking gas (LPG) price was hiked by Rs 1.50 per cylinder in line with the government decision to raise rates every month to eliminate subsidies by March. A subsidised 14.2-kg LPG cylinder will from Sunday cost Rs 488.68 in Delhi as against Rs 487.18 previously, IOC said. The hike comes on back of over Rs 7 per cylinder increase effected from September 1.
Oil Minister Dharmendra Pradhan had on July 31 told the Lok Sabha that the government had asked state-run oil firms to raise subsidised cooking gas (LPG) prices by up to Rs 4 per cylinder every month to eliminate all the subsidies by March next year. Rates were, however, raised by Rs 2.31 per cylinder on August 1 and the oil companies effected a large hike on September 1 to equalise that, sources said.
Since the implementation of the policy of monthly increases from July last year, subsidised LPG rates have gone up by over Rs 69.50 per cylinder. A 14.2-kg LPG cylinder was priced at Rs 419.18 in June 2016. The government had previously asked oil firms to raise rates of subsidised domestic LPG by Rs 2 per 14.2-kg cylinder.
