New Delhi, Dec 1: Achche din are here! After petrol price was cut on Sunday by 91 paise a litre, the seventh reduction since August, and diesel by 84 paise per litre, the third straight cut, as international oil rates continued to slump, price of non-subsidized cooking gas (LPG) was today cut by a steep Rs 113 per cylinder and that of jet fuel (ATF) by 4.1 per cent as international oil rates slumped to multi-year lows.
This is the fifth straight monthly reduction in rates of non subsidised LPG cylinders since August.
In five monthly reduction, non-domestic LPG rates have been slashed by Rs 170.5 per cylinder, bringing the price at three-year lows.
On similar lines, the price of aviation turbine fuel (ATF), or jet fuel, at Delhi was cut by Rs 2,594.93 per kilolitre, or 4.1 per cent, to Rs 59,943 per kl.
This reduction follows a steep 7.3 pr cent or Rs 4,987.7 per kl, cut in prices on November 1.
Since August, ATF prices have been cut by 14.5 per cent or Rs 10,218.76 per kl and rates have dipped below Rs 60,000 per kl level for the first time in three years.
Brent, the benchmark grade for more than half of the world's oil, have dropped to USD 68.34 a barrel, the lowest level since October 2009. Prices declined 18 per cent last month and are 38 per cent lower in 2014.
In Mumbai, jet fuel will cost Rs 61,695 per kl from today as against Rs 64,414.98 per kl previously. The rates vary because of differences in local sales tax or VAT.
(With inputs from agencies)