Flying and cooking will be shed more money from your pockets as Aviation Turbine Fuel (ATF) has been hiked by six percent and liquified petroleum gas (LPG) has been hiked by Rs 1.50.
The hike in ATF or the jet fuel hike is the third straight increase in rates since August.
The jet fuel will now cost Rs 53,045 kilotires in Delhi according to price hike notification by Indian Oil Corp — India’s biggest fuel retailer. Earlier the price was Rs 50,020 previously. The hike is almost of Rs 3,025.
The earlier hike was announced on September 1, which was almost of 4 percent (Rs 1,910).
The subsidary LPG price has been hiked by Rs 1.50 per cylinder in line with the government orders. While Rs 50 has been hiked for non-subsidised LPG cylinders.
The cooking gas prices are to hiked by Rs 4 per month to eliminate subsidies by March.
Now the subsidised 14.2 Kilogram cylinder will cost Rs 488.68 in Delhi. Prior to the Sunday hike the cylinder cost Rs 487.18.
The latest hike comes on back of over Rs 7 increase effected from September 1.
Dharmendra Pradhan, Union Oil Minister, had directed all the oil companies to raise price of subsidised cooking gas prices by up to Rs 4 per cylinder every month to eliminate all the subsidies by March next year.
State-owned oil firms on 1st of every month revise rates of LPG and ATF based on average oil price and foreign exchange rate in the previous month.