New Delhi: With global crude oil rates going under $70 a barrel yesterday, the price of non-subsidised cooking gas (LPG) was cut by a hefty `113 per cylinder and of aviation turbine fuel (ATF) or jet fuel by over 4 percent. The 14.2kg cylinder of non-subsidized LPG is now available at `752 in Delhi as compared `865 previously, state-run oil marketers announced.
Non-subsidised LPG is that which customers buy after exhausting their quota of 12 cylinders at subsidized rates.
The price of jet fuel at Delhi was cut by 4.1 percent, or `2,594.93 per kilolitre, and now stands at `59,943 a kl. In November, ATF rate was cut by a steep 7.3 percent or `4,987.7 per kl. Petrol and diesel prices have also been reduced with effect from last night by 91 paise and 84 paise respectively.
“The prices of petrol and diesel were last revised downwards from November 1 by `2.41/litre and `2.25/litre respectively (including state levies at Delhi) on the back of declining international oil prices,” Indian Oil Corp said.
“The movement of prices in international oil market and INR-USD exchange rate shall continue to be closely monitored and developing trends of the market will be reflected in future price changes,” it added. Last month, the government deregulated diesel prices by linking the fuel cost to market-based pricing.
Benchmark Brent crude fell yesterday to a five-year low of $67.82 per barrel, dragged down by US crude which fell to its lowest since July 2009 to $64.66 a barrel. Both benchmarks have been falling for five months running.
Opec decision last week not to cut production in line with cartel leader Saudi Arabia’s strategy to combat the US shale oil boom.
IANS
