Jet gas value up 6.7%; petrol, diesel value hike coming quickly

Jet gas value on Saturday was hiked by steep 6.7 per cent, reversing value cuts of final month, whereas a rise in petrol and diesel costs could also be on the anvil as worldwide costs firmed up.
Aviation turbine gas (ATF) value was elevated by Rs 3,885 per kilolitre (kl), or 6.7 per cent, to Rs 61,690.28 per kl within the nationwide capital, in line with a value notification of state-owned gas retailers.
Rates differ from state to state relying on incidence of native taxes.
The improve in value comes after two rounds of discount final month. Prices had been reduce by 3 per cent on April 1 after which once more by Rs 568.88 per kl (1 per cent) on April 16.
Meanwhile, petrol and diesel costs remained unchanged for the sixteenth day on Saturday however oil firm officers indicated a rise in charges in close to time period.
Despite the issues about rising Covid-19 instances in India denting demand, crude oil costs within the worldwide market proceed to rise on account of robust US demand restoration and a weak greenback.
“Prices have been on a continuous uptrend for last 4 days (since April 27),” an official mentioned including Dubai crude oil value has risen USD 2.91 per barrel.
It is predicted that the crude oil costs within the worldwide market will stay agency within the close to future, exerting upward strain, officers mentioned.
State-owned gas retailers, IOC, BPCL and HPCL, who’re purported to revise charges every day primarily based on enter value, froze charges after a marginal discount in costs on April 15. This got here as electioneering in West Bengal peaked.
Petrol now prices Rs 90.40 per litre in Delhi, whereas a litre of diesel comes for Rs 80.73.
The April 15 reduce of 16 paise a litre on petrol and 14 paise on diesel was fourth discount since March 24. In 4 reductions since March 24, petrol value was reduce by 67 paise and diesel by 74 paise.
This discount in contrast with a Rs 21.58 per litre improve in value of petrol because the authorities raised excise obligation in March final yr. Diesel costs had elevated by Rs 19.18 a litre.
While petrol and diesel costs are revised every day, ATF charges are revised on the first and sixteenth of each month.
Central and state taxes make up for 60 per cent of the retail promoting value of petrol and over 54 per cent of diesel. The union authorities levies Rs 32.90 per litre of excise obligation on petrol and Rs 31.80 on diesel.