New Delhi, October 1: Jet fuel (ATF) price on Saturday was slashed by 4.5 per cent and that of commercial LPG used in hotels and restaurants by Rs 25.5 per 19-kg cylinder. The price of a 19-kg commercial LPG cylinder was cut to Rs 1,859.50 in the national capital from Rs 1,885, according to a price notification from state-owned fuel retailers.

This is the sixth reduction in price of commercial LPG since June, in step with softening international energy prices. In all, rates have come down by Rs 494.50 per 19-kg cylinder. However, rates of LPG used in household kitchens for cooking purposes remained unchanged at Rs 1,053 per 14.2-kg cylinder. Small Saving Schemes Interest Rate Hike: Narendra Modi Govt Increases Rate for Senior Citizen Savings Scheme by 20 Bps to 7.6% From 7.4%.

This because the rates of domestic cooking gas were way lower than cost and now with a drop in international prices, they are at breakeven, industry sources said. Commercial LPG rates, on the other hand, have largely been aligned with cost and so they have moved in tandem with rise and fall in international prices. Simultaneously, the rates of aviation turbine fuel (ATF) were cut marginally by 4.5 per cent.

Jet fuel price was cut by Rs 5,521.17, or 4.5 per cent, to Rs 115,520.27 pr kl in the national capital. Rates differ from state to state depending on incidence of local taxes. While commercial LPG rates are revised once a month, ATF prices are changed every fortnight. There was no change in jet fuel prices on September 16. Prior to that, they were cut marginally by 0.7 per cent on September 1. RBI Monetary Policy: Reserve Bank of India Hikes Repo Rate by 50 Bps to 5.90%, Inflation Projection Retained at 6.7%.

Petrol and diesel prices, however, continued to remain on freeze for a record near six months. Petrol costs Rs 96.72 per litre in the national capital and diesel comes for Rs 89.62.

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