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Indian Oil Hikes Jet Fuel Prices, Cuts Non-subsidised LPG Rate

The oil marketer, however, cut by Rs 66.50 the rate of the non-subsidised liquefied petroleum gas cylinder of 14.2 kg, which customers purchase at market price after exhausting the subsidised quota.

IANS

Updated:February 1, 2017, 11:31 AM IST
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Indian Oil Hikes Jet Fuel Prices, Cuts Non-subsidised LPG Rate
A worker loads Liquefied Petroleum Gas (LPG) cylinders onto his cycle-rickshaw. (Photo: Reuters)
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New Delhi: State-run Indian Oil Corp hiked the price of aviation turbine fuel (ATF) or jet fuel by 2.9 per cent to Rs 1,539 per kilolitre (kl), effective from Wednesday, the company announced.

ATF now costs Rs 54,079.63 per kl here. Prices vary at airports depending on local taxes.

The oil marketer, however, cut by Rs 66.50 the rate of the non-subsidised liquefied petroleum gas cylinder of 14.2 kg, which customers purchase at market price after exhausting the subsidised quota.

A non-subsidised 14.2 kg cooking gas cylinder now costs Rs 651.50 here.

State-run oil marketers revise ATF prices on the first of every month.

Aviation stocks, including those of SpiceJet, Jet Airways and IndiGo, fell following the hike in ATF prices.

The stocks of Jet Airways went down by 3.75 per cent around 10.50 a.m. to touch Rs 390.25.

SpiceJet's scrip was lower by 2.08 per cent to Rs 63.50. IndiGo's stocks were down 7.31 per cent to Rs 835.

As per available data, the Indian basket of crude oils closed trade on Monday at $54.63 per barrel.
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
| Edited by: Nakshab Khan
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