Srinagar, Oct 03: Oil companies have raised the prices of commercial LPG, the type used in establishments like hotels and restaurants, by Rs 209. As a result, a 19-kg commercial LPG cylinder now costs Rs 1,731.50 in the national capital and Rs 1,684 in Mumbai.
This price hike largely reverses the Rs 157.5 per cylinder reduction in commercial LPG prices that was implemented on September 1, along with a Rs 100 reduction on August 1.
The increase in the benchmark Saudi Contract Price (CP) for LPG has been a contributing factor to these price adjustments. This increase follows a trend in crude oil prices, which have been rising in recent weeks due to concerns about supply.
Jet fuel prices, also known as Aviation Turbine Fuel (ATF), have been hiked by 5 percent, marking the fourth consecutive monthly increase since July. This increase comes on the heels of the steepest-ever 14.1 percent surge, amounting to Rs 13,911.07 per kilolitre, that was implemented on September 1.
Additionally, there was an 8.5 percent or Rs 7,728.38 per kilolitre increase on August 1. The recent hike in ATF prices has seen a rise of Rs 5,779.84 per kilolitre, or 5.1 percent, in the national capital, bringing the price to Rs 118,199.17 per kilolitre from Rs 112,419.33.
Jet fuel is a significant component of an airline’s operating cost, constituting 40 percent of the total expenditure. This latest increase in ATF prices places additional financial strain on airlines that are already grappling with financial challenges.
(Courtesy- The Economic Times)
