Global cushion to petro product prices - The New Indian Express

Petrol price has been cut by 85 paise per litre with effect from midnight on Monday, the second reduction in rates in two weeks. The price cut comes in the wake of fall in international oil prices, and is excluding local sales tax or VAT. After including VAT, the reduction in price of petrol in Delhi comes to `1.02 per litre and the fuel will cost `67.29 per litre from Monday midnight against `68.34. Petrol in Mumbai will cost `1.07 less at `74.14 per litre. In Kolkata, the price has been cut by an equal measure to `74.72. It will cost `70.34 a litre in Chennai. Non-subsidised LPG Price Too Cut The price of non-subsidised cooking gas LPG was also reduced by `3 per cylinder in line with the fall in international rates. A 14.2-kg LPG cylinder that consumers will have to buy after they exhaust their enhanced quota of nine subsidised bottles in a year will cost `901.50 now, according to Indian Oil Corporation (IOC). Jet Fuel Price Cut by 5.5% Underpressure aviation sector in India has been given some relief as the price of Aviation Turbine Fuel (ATF) or jet fuel has reduced by over 5 per cent. According to state-owned oil companies, ATF has been cut by 5.5% at the T3 terminal in New Delhi and will cost `3,885 per kl lesser at `66,196 per kl. It was reported that other cities like Mumbai would also see ATF prices come down from `72,451.79 per kl to `68,332 per kl. The eastern city of Kolkata would see ATF prices drop by `3,066 to `76,172 per kl, while in Chennai it would cost `71,986 in when compared to `76,239.44 per kl earlier.  Oil companies, which reviews the price of ATF based on international prices, had increased the cost by 2% at the beginning of February and over 3.8% at the beginning of March 1, 2013. ATF is said to add nearly 40% of operating costs in aviation the sector. via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNHGcmRY7tz0wPVkQ1IiUHvxdociZg&url=http://newindianexpress.com/business/news/article1526860.ece

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