ATF, Commercial LPG Prices Slashed; Nayara Cuts Petrol and Diesel Rates

New Delhi, July 1: Aviation Turbine Fuel (ATF) and commercial LPG prices were reduced on Wednesday as easing tensions in West Asia led to a decline in global crude oil prices. Private fuel retailer Nayara Energy also lowered petrol and diesel prices, becoming the first fuel retailer in over two years to cut pump rates. Industry sources said ATF prices were reduced by around ₹5 per litre, bringing the price in Delhi to nearly ₹110 per litre. The reduction comes after a recent spike caused by geopolitical tensions in West Asia. Oil marketing companies also cut the price of commercial LPG by ₹183.50 per 19-kg cylinder, marking the first reduction this year. The revised price now stands at ₹2,930 per cylinder, down from the record high of ₹3,113 last month. The price of the 5-kg Free Trade LPG (FTL) cylinder was also reduced by ₹13 to ₹808.50, while domestic 14.2-kg LPG cylinder prices remained unchanged at ₹942. The Government had recently introduced an ATF price stabilisation scheme, allowing participating airlines to purchase jet fuel at a fixed rate of ₹115 per litre for up to three years. Airlines not opting for the scheme will continue to pay prevailing market prices. Separately, Nayara Energy reduced petrol prices by ₹5 per litre and diesel prices by ₹3 per litre across its network of more than 7,000 fuel stations. The company attributed the move to falling international crude oil prices following the easing of supply concerns in West Asia. However, state-run fuel retailers—Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL)—kept retail fuel prices unchanged. In Delhi, petrol continues to be sold at ₹102.12 per litre, while diesel remains priced at ₹95.20 per litre. The latest revision effectively reverses Nayara’s previous fuel price hike and marks the first reduction in retail fuel prices by any retailer in more than two years.