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LPG, Jet Fuel Prices Slashed as West Asian Conflict Eases
1 Jul
Summary
- Commercial LPG prices decreased by ₹183.50 per 19-kg cylinder.
- Domestic jet fuel prices were reduced by ₹5 per litre.
- Domestic LPG cylinder prices remained unchanged at ₹942.
Public sector oil marketing companies have reduced prices for commercial LPG and domestic jet fuel, indicating a de-escalation in the West Asian conflict. The price of a 19-kg commercial LPG cylinder decreased by ₹183.50, bringing the Delhi price to ₹2,930. Additionally, domestic jet fuel (ATF) prices were cut by ₹5 per litre to ₹110 in Delhi.
These reductions follow the government's decision on June 29th to lift restrictions on diesel and petrol sales from retail outlets, effective July 1st. While commercial LPG and jet fuel prices saw decreases, the cost of domestic 14.2-kg LPG cylinders remains unchanged at ₹942 per cylinder. A 5-kg FTL cylinder price was cut by ₹13 to ₹808.50, offering relief to migrant labourers.
Previously, domestic LPG prices saw increases in June and March. Rising under-recoveries from selling domestic LPG below market rates had impacted subsidies, leading to a reduction in the PM Ujjwala Yojana subsidy. OMCs had also raised petrol and diesel prices multiple times since May 15th, contributing to a decline in daily losses for the companies.
