Petrol, LPG,aviation fuel cheaper from today

New Delhi, 1 October 2014

State oil firms have slashed petrol prices by 65 paise per litre from Wednesday because of falling international oil prices.

This is the fourth consecutive reduction in petrol prices in last two months leading to a total Rs 5.74 per litre drop in its rate in Delhi. “Petrol prices have been reduced by about 54 paise per litre on all India basis, but the pump prices of petrol will differ from city to city depending on local levies,” said an executive of Indian Oil Corporation.

In another development, price of non-subsidised cooking gas (LPG) was today cut by Rs 21 per cylinder and that of jet fuel ( ATF) by a steep 3 per cent on the back of falling international oil rates.

This is the third straight reduction in rates of non- subsidised LPG since July.

A non-subsidised 14.2-kg cooking gas cylinder will now cost Rs 880, down from Rs 901, in Delhi, according to Indian Oil Corp (IOC).

The price of aviation turbine fuel (ATF), or jet fuel, at Delhi was cut by Rs 2,077.62 per kilolitre, or 2.98 per cent, to Rs 67,525.63 per kl, the nation’s largest fuel retailer said.

This is the third reduction in jet fuel rates since July. Declining international oil prices have made imports cheaper, resulting in price reduction.

The three fuel retailers — IOC, Hindustan Petroleum Corp and Bharat Petroleum Corp — revise jet fuel and non-subsidised LPG prices on the first of every month, based on the average international prices in the preceding month.