Oil-marketing companies (OMCs) on Thursday lowered the prices of non-subsidised cooking gas, or liquefied petroleum gas (LPG), by Rs 43.50 per 14.2-kg cylinder, and those of aviation turbine fuel (ATF) by 12.5 per cent, in line with a decline in global crude oil prices.

After the latest cut in the price of market-rated LPG, the fifth reduction since August last year, a non-subsidised cooking gas cylinder in Delhi will cost Rs 708.50 — a three-year low. The price of subsidised LPG has been left unchanged at Rs 417 a cylinder. Consumers use non-subsidised LPG after they have exhausted their quota of 12 subsidised cylinders in a year.

Global crude oil benchmark, Brent, has slipped 48 per cent since June on the back of a global decline in demand and rising supplies, particularly of shale oil from the US. Brent has fallen to $57.33 a barrel, its lowest level since May 2009.

Source: BS