Indian Oil Hikes Prices of ATF, Commercial LPG

1 Aug 2024 , 04:48 PM

Indian Oil Corporation Limited (IOC) raised prices of aviation turbine fuel (ATF) and 19-kg commercial liquefied petroleum gas (LPG) cylinders effective August 1. The other two PSU fuel retailers, Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL), usually change their prices in tandem with IOC.

According to the website of the state-owned company, IOC will now sell ATF at ₹97,975.72 per KL in Delhi, up around 2% from the earlier price. The quantum of the hike will vary in other cities of India due to differences in state taxes on petroleum products.

Various media reports indicate that IOC also raised ATF prices last month by 1.2%, though this could not be independently confirmed. Any change in ATF prices impacts airlines significantly, as fuel accounts for a large portion of their overall expenses.

IOC also raised the price of 19-kg commercial LPG cylinders by around ₹6.5 each to ₹1,652.50 in Delhi and ₹1,605.00 in Mumbai.

Indian fuel retailers usually review ATF and commercial LPG prices on the first of every month, benchmarking them against international product prices and factoring in changes in currency exchange rates.