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The Indian aviation sector received a much-needed boost on Tuesday as the price of Aviation Turbine Fuel (ATF) was reduced by 6.3%, marking the lowest price point for the year. This price reduction, the second within a month, comes as a relief to airlines who face significant operational costs, with fuel accounting for nearly 40% of their expenses. The decrease in ATF price was attributed to the decline in international oil prices, reflecting the ongoing global economic trends.
However, the positive news for the aviation sector was overshadowed by a hike in commercial LPG prices, used by hotels and restaurants. The price of a 19-kg commercial LPG cylinder saw a ₹48.5 increase, marking the third consecutive monthly rise. This price adjustment, also linked to international oil price fluctuations, puts pressure on businesses that rely heavily on LPG for cooking and other operations.
Despite the price increases in commercial LPG, the price of cooking gas for domestic households remained unchanged. This decision reflects the government's strategy to provide relief to consumers amidst rising inflation. The stability in domestic cooking gas prices offers some reprieve to households already grappling with increasing costs of living.
These price adjustments for ATF, commercial LPG, and domestic cooking gas highlight the complex interplay between global economic conditions, domestic policy decisions, and the financial well-being of various sectors. As the world continues to grapple with economic uncertainty, the price of essential commodities like fuel and cooking gas will remain a focal point for both consumers and businesses alike.
Source: ATF price cut 6%, commercial LPG up ₹48.5 per cylinder