AVIATION Turbine Fuel (ATF) and commercial LPG prices were cut on Wednesday as easing tensions in West Asia pulled down international oil prices, while private fuel retailer Nayara Energy lowered petrol and diesel prices, becoming the first retailer in more than two years to reduce pump rates. ATF prices were reduced by about Rs 5 per litre, bringing the price in Delhi to around Rs 110 per litre, industry sources said. The reduction is the first since the recent spike triggered by the West Asia conflict. Oil marketing companies also cut price of commercial LPG by Rs 183.50 per 19-kg cylinder, first cut this year. Commercial LPG will now cost Rs 2,930 per cylinder after touching a record Rs 3,113 last month as geopolitical tensions pushed up crude oil prices.

 

Alongside, the 5-kg marked-priced or Free Trade LPG (FTL) cylinder cost was also reduced by Rs 13 to Rs 808.50 per 5-kg cylinder. Prices of domestic 14.2-kg LPG cylinders were left unchanged at Rs 942. Separately, Nayara Energy cut petrol prices by Rs 5 per litre and diesel by Rs 3 per litre across its network of more than 7,000 fuel stations, sources said. The move follows a decline in global crude prices after concerns over supply disruptions eased with the de-escalation of hostilities in West Asia and the reopening of a key maritime route. Nayara had been among the first retailers to raise fuel prices after the outbreak of the Iran conflict triggered a spike in international oil prices. On March 26, it increased petrol prices by Rs 5 per litre and diesel by Rs 3 per litre.