Commercial LPG price hiked by Rs 195.50; petrol, diesel price increase on cards

NEW DELHI: Fuel prices were increased considering the surge in oil prices in the international market following the West Asian conflict. The prices of aviation fuel, premium petrol, diesel and commercial gas cylinders were increased on Wednesday. The price of aviation fuel more than doubled.

There is a possibility that the prices of domestic cooking gas, regular petrol and diesel will also increase soon. If that happens, the prices of essential commodities will also increase. The price hike is being delayed because assembly elections are being held in five states, including Kerala. Domestic cooking gas prices increased by Rs 60 on March 7.

The price of a 19 kg commercial cooking gas cylinder was increased by Rs 195.50, a major blow to hotels and other businesses. In some places, the price will increase by more than Rs 200. About 50 per cent of hotels have closed due to a lack of LPG. Those hotels that are open have also increased the price of food.

Meanwhile, the wholesale price of gas has increased by Rs 51. The price of a 5 kg LPG cylinder used by small traders has been increased by Rs 51. The price of a 19 kg cylinder was increased by Rs 114.50 on March 1 and by Rs 60 on March 7 for a domestic cylinder.

Indian Oil Corporation increased the price of premium XP 100 petrol by Rs 11 per litre and Extra Green diesel by Rs 1.50 per litre. The central government had reduced import duty to keep up with the price hike in the international market. The move failed to yield the needed results, which now paved the way for a fuel price hike.

👉 The price of ATF, the aviation fuel, was increased from Rs 96,638.14 per kilolitre to Rs 2,07,341.22 (an increase of Rs 1,10,703.08). This is the first time that the price has crossed the two lakh mark.

👉 Only 25% of the price increase (Rs 15 per litre) applies to domestic services (Rs 1,04,927 per kilolitre). However, the 25% increase may be in domestic fares

👉 However, the ATF price increase is fully applicable to international and chartered services. 40% of the ticket price is based on the fuel price

👉 The previous price increase for aviation fuel was due to the 2022 Russia-Ukraine conflict (about Rs 1.1 lakh per kilolitre)