Oil marketing companies on Thursday increased the price of commercial LPG by Rs 62.50 per 19-kg cylinder and aviation turbine fuel (ATF) by Rs 16 per litre.
Commercial LPG prices had been raised by Rs 9.50 per 19-kg cylinder in September, after being cut by Rs 192 in August and Rs 183.50 in July. Prices had surged by Rs 1,373 between February and June, from Rs 1,740.50 to Rs 3,113.50 per cylinder, before declining in July and August.
The latest revisions are based on international benchmark prices and the rupee-dollar exchange rate. LPG and ATF prices are revised on the first day of every month and can vary across states due to local taxes.
Prices of domestic LPG were left unchanged at Rs 942 per 14.2-kg cylinder.
ATF prices were increased to Rs 137 per litre from Rs 121 for domestic airlines. The latest hike follows an increase of Rs 6.28 per litre, or 5.46 per cent, in September and Rs 5 per litre in August. ATF accounts for up to 40 per cent of airlines’ operating costs.
Meanwhile, the government cut the windfall gains tax on exports of diesel and ATF while retaining the levy on petrol exports. The special additional excise duty (SAED), along with road and infrastructure cess on diesel exports, has been reduced to Rs 16 per litre from Rs 20. The SAED on ATF exports has been cut to Rs 10.50 per litre from Rs 15.
The duty on petrol exports has been retained at Rs 0.50 per litre for the fortnight beginning October 1. The Finance Ministry said the revised rates would take effect from October 1. The government had imposed the export levy on diesel and ATF on March 27 amid tensions in West Asia and later extended it to petrol exports from May 16.
There was no change in the existing duty rates on petrol and diesel cleared for domestic consumption, the ministry said. The windfall tax was introduced to ensure domestic availability of petroleum products and discourage exports when global crude oil prices were elevated.
