© Reuters.
INDIA – In a recent update reflecting the global oil market trends and Saudi Contract Price (CP), Indian oil companies have announced a cut in Aviation Turbine Fuel (ATF) prices by 4.6%, now standing at ₹106,155.67 per kilolitre. This price adjustment, effective today, was accompanied by a hike in commercial Liquefied Petroleum Gas (LPG) by ₹21, bringing the price to ₹1,796.50 for a 19kg cylinder in Delhi. However, domestic LPG prices remain unchanged at ₹903 for a 14.2kg cylinder.
The monthly pricing update, a practice by Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL), mirrors the fluctuations in the international oil market and is in line with the Saudi CP. This latest announcement comes after a period of incremental increases in ATF rates observed from July through October.
In contrast, the prices for petrol and diesel have maintained stability since the last adjustment in May, following the excise duty cut in April. Both fuels have remained at ₹96.72 and ₹89.62 (USD1 = INR83.333) per litre, respectively, indicating a period of relative steadiness in the domestic fuel…
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