New Delhi: 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 international rates. Whereas the cost of an LPG cylinder is raised by ₹1.5.
According to a price hike notification by Indian Oil Corp, ATF will now cost ₹53,045 per kilolitre (kl) in Delhi, ₹3,025 per kl more than ₹50,020 previously, reports Business Line.
The last hike was made on September 1 on ATF by 4 percent (₹1,910 per kl). Also, non-subsidised cooking gas (LPG) price was hiked by ₹7 per cylinder, with the government’s decision to raise rates every month to eliminate subsidies by March.
Also Read: LPG price hiked by Rs 7 per cylinder, ATF by 4 per cent
A subsidised 14.2-kg LPG cylinder will from today cost ₹488.68 in Delhi as against ₹487.18 previously, IOC said. A 14.2-kg LPG cylinder was priced at ₹419.18 in June 2016. The hike comes on the back of over ₹7 per cylinder increase effected from September 1.
Eliminating subsidy
Oil Minister, Dharmendra Pradhan on July 31 had told the Lok Sabha that the government had asked State-run oil firms to raise subsidised cooking gas (LPG) prices by up to ₹4 per cylinder every month to eliminate all the subsidies by March next year.
Since the implementation of the policy of monthly increases from July last year, subsidised LPG rates have gone up by over ₹69.50 per cylinder.