New Delhi: The price of liquefied petroleum gas (LPG) cylinders for commercial use has been slashed by Rs 91.50 effective today, bringing relief to users. The 19 kg commercial cylinder in the national capital is now available for Rs 1,885 compared to its previous price of Rs 1,976.50, according to the website of Indian Oil Corporation.
Similarly, a commercial LPG cylinder will cost Rs 1,995.50 instead of Rs 2095.50 in Kolkata, Rs 1,844 instead of Rs 1,936.50 in Mumbai, and Rs 2,045 in Chennai instead of Rs 2,141.
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The price cut will offer some relief to restaurants, eateries and tea stalls, etc which are the largest user segment of the 19 kg cylinder. However, no changes have been made in the price of domestic LPG cylinders as of now. Oil marketing companies announce LPG price changes twice a month, once at the beginning of the month and once during the middle of the month.
ATF price slashed after govt raised windfall profit tax on export
The price of ATF (aviation turbine fuel) witnessed a price cut on Thursday after the central government raised the windfall profit tax on jet fuel exports. The price of jet fuel has been cut by 0.7 per cent (Rs874) to Rs 1.21 lk/kl from Rs 1.22/kl in Delhi, according to IOC website.
The tax on ATF exports has been hiked to Rs 9 from Rs 2 per litre with effect from September 1, according to a finance ministry notification issued late Wednesday night, reported news agency PTI.
Windfall profit taxes was imposed for the first time on July 1. India joined the list of nations that tax super normal profits of energy companies. But international oil prices have cooled since then, eroding the profit margins of both oil producers and refiners.
On July 1, export duties of Rs6 per litre ($12 per barrel) were levied on petrol ATF. Later on July 20, the tax on the export of ATF was cut by Rs4. On August 2, the export tax on ATF was removed following a drop in refinery cracks or margins. On August 19, the export tax of Rs2 per litre on ATF was again imposed. At the fourth fortnightly review on August 31, the taxes on ATF export has been raised again.