The Oil Marketing companies on Wednesday, 1 June 2022, announced to reduce the prices of the 19 kg commercial cylinder. The news brings the much-needed relief.
From today, the 19 kg commercial cylinder will be cheaper by Rs 135 cheaper. The price of a 19 kg commercial cylinder will now be Rs 2,219 as against the earlier price of Rs 2,354 per bottle in Delhi, while in Kolkata it will be priced at Rs 2,322 instead of Rs 2,454 in Kolkata, Rs 2,171.50 instead of Rs 2,306 in Mumbai and Rs 2,373 instead of Rs 2,507 in Chennai.
Whereas, This year the price of air-fuel or jet fuel (aviation turbine fuel) has been cut for the first time and it has become cheaper. Jet fuel prices on June 1 were cut by 1.3 percent — the first reduction after 10 rounds of price hikes — on softening international crude oil rates. The price of aviation turbine fuel (ATF) — the fuel that helps airplanes fly — has been reduced by ₹1,563.97 per kilolitre, or 1.27 percent, to ₹1,21,475.74 per kl (₹121 per liter) in the national capital, according to a price notification of state-owned fuel retailers.
State-owned oil companies review the prices of aircraft fuel on the 1st and 16th of every month. Since January 1 this year, air fuel had become costlier by close to 62 percent and today’s reduction is the first reduction of this year. Let us tell you that the last time i.e. on May 16, the price of jet fuel was increased by 5 percent, after which its price increased to Rs 123,039.71 per kiloliter.
Meanwhile, a 14.2-kg LPG cylinder costs ₹1,003 in the national capital. Pradhan Mantri Ujjwala Yojana beneficiaries will get a ₹200 subsidies directly in their bank account and the effective price for them would be ₹803 per 14.2-kg cylinder.
There was no subsidy paid on cooking gas since June 2020, and all users including Ujjwala beneficiaries bought cylinders at the market rate, which currently is ₹1,003 in Delhi. Non-subsidized LPG now costs ₹1,003 per 14.2-kg cylinder in the national capital, up from ₹999.50 previously, according to a price notification of state-owned fuel retailers. Since April 2021, prices have risen by ₹193.5 per cylinder.
India relies on overseas purchases to meet about 85 percent of its oil requirement, making it one of the most vulnerable in Asia to higher oil prices. While India has surplus oil refining capacity, it does not manufacture enough LPG to meet domestic demand and imports significant quantities from nations such as Saudi Arabia.