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In a move offering respite to businesses and the aviation sector, oil marketing companies today announced a reduction in the prices of commercial Liquefied Petroleum Gas (LPG) and Aviation Turbine Fuel (ATF). The price of a 19-kg commercial LPG cylinder, primarily used in hotels, restaurants, and other commercial establishments, has been lowered by Rs 14.50. Simultaneously, the price of jet fuel has witnessed a substantial cut of 4.4%, marking the second significant decrease in its cost within a single month.

This downward revision in commercial LPG prices comes after a Rs 6 per cylinder hike in March, which had seen the cost of a 19-kg cylinder in the national capital of Delhi rise to Rs 1,803 from Rs 1,797. The current reduction effectively partially offsets that increase, granting relief to the commercial sector. Notably, the prices of 14.2-kg domestic LPG cylinders have remained stable since August 2024, indicating a targeted price adjustment for the industrial and commercial segments.

In parallel, the aviation industry has received a significant boost with the 4.4% cut in jet fuel prices. In Delhi, home to one of India's busiest airports, the price of ATF has been reduced by Rs 3,954.38 per kilolitre, bringing it down to Rs 85,486.80 per kilolitre, according to state-run fuel retailers. This follows an even steeper reduction of 6.15% (Rs 5,870.54 per kilolitre) on April 1.

The consecutive reductions in jet fuel prices are likely to have a positive impact on airline operational costs. Fuel constitutes a significant portion of an airline's expenditure, and such substantial price drops could potentially lead to lower fares for passengers in the future, although this will depend on various market dynamics and airline pricing strategies.

It is important to note that the prices of LPG vary across different states in India due to the imposition of varying local taxes and transportation costs. Therefore, while the base reduction is Rs14.50 per cylinder, the actual benefit to commercial consumers might differ slightly depending on their geographical location.

Overall, the reduction in commercial LPG and jet fuel prices is a welcome development for the respective sectors. It offers immediate financial relief to businesses and the aviation industry, potentially contributing to economic stability and growth. The consistent monitoring of global oil prices by oil marketing companies and the subsequent adjustments in domestic fuel prices play a crucial role in managing the economic impact of these essential commodities.