The cost of jet fuel, known as ATF, saw a reduction of 4.4% on Thursday, marking the second significant decrease within a month.
Furthermore, the price of commercial LPG utilized in hotels and restaurants has been lowered by Rs 14.50 per cylinder, aligning with international standards.
In the national capital, the price of Aviation Turbine Fuel was decreased by Rs 3,954.38 per kilolitre, or 4.4%, bringing it down to Rs 85,486.80 per kl. This city is home to one of the busiest airports in the country, as reported by state-owned fuel retailers.
This price reduction comes after a substantial decrease of 6.15% (Rs 5,870.54 per kl) that was implemented on April 1. The two reductions have successfully countered the price hikes observed earlier this year.
In Mumbai, the ATF price was reduced to Rs 79,855.59 per kl from Rs 83,575.42, while in Chennai and Kolkata, the prices fell to Rs 88,494.52 and Rs 88,237.05 per kl, respectively.
Oil companies also lowered the price of commercial LPG by Rs 14.50 for a 19-kg cylinder. Currently, commercial LPG costs Rs 1,747.50 in the national capital and Rs 1,699 in Mumbai.
This adjustment follows a previous reduction of Rs 41 per cylinder that took effect on April 1.
In recent weeks, international oil prices have declined as the global trade war has negatively impacted fuel demand forecasts. Brent crude, the leading international benchmark, was priced below $61 per barrel, the lowest level in over three years.
The prices for ATF and LPG vary from state to state, influenced by local taxes, including VAT.
However, the rate for cooking gas used in households has remained stable at Rs 853 for a 14.2-kg cylinder. The cost of domestic LPG was raised by Rs 50 per cylinder last month.
The state-owned Indian Oil Corporation, Bharat Petroleum Corporation Ltd, and Hindustan Petroleum Corporation Ltd adjust the prices of ATF and cooking gas on the first of each month based on the average prices of international fuel benchmarks and foreign exchange rates.
Even though international oil prices have softened, domestic petrol and diesel rates have remained unchanged. The last reduction was Rs 2 per litre in mid-March of the previous year, just before the general elections. Currently, petrol is priced at Rs 94.72 per litre in Delhi, while diesel costs Rs 87.62.
