ATF price up 5.5 pc; non-subsidised LPG cut by Rs 42
October 01, 2015 13:47
ATF or jet fuel price was today hiked by 5.5 per cent on global trends while rates of non-subsidised cooking gas LPG were cut by Rs 42 per cylinder.
Also, rates of non-subsidised kerosene were increased by Rs 54 paisa to Rs 43.18 per litre.
The hike comes after a steep 11.7 per cent or Rs 5,469.12 per kl cut in rates to Rs 40,938.24 per kl effected from September 1, the third in straight monthly reduction. Prior to that jet fuel rate was cut by 9.4 per cent to Rs 46,407.36 on August 1 and by Rs 2,086.56 per kl to Rs 51,267.36 on July 1.
Rates vary at different airports because of differential local sales tax or value-added tax (VAT).
Jet fuel constitutes over 40 per cent of an airline's operating costs and the price increase will raise the financial burden on cash-strapped carriers.
No immediate comment was available from airlines on the impact of price reduction on passenger fares.
Simultaneously, the oil firms have also cut prices of non-subsidised LPG, which consumers buy after exhausting their quota of subsidised cooking fuel, by Rs 42 per 14.2-kg bottle.
TOP STORIES
© 2024 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Feedback - About us - Terms of use - Grievances