New Delhi, 01 May (H.S.):

Public sector oil and gas marketing companies (OMCs) have decided to absorb the impact of rising global fuel prices themselves, providing relief to aviation companies and consumers. OMCs announced on Friday that there has been no revision in Aviation Turbine Fuel (ATF) prices for domestic airlines.

Indian Oil Corporation (IOC) stated that ATF rates are revised on the 1st of every month based on costs. While no change has been made for domestic airlines, prices for international airlines have been increased. IOC added that retail prices of petrol and diesel remain unchanged for consumers.

According to the company, consumers account for nearly 90% of total petrol and diesel consumption. Similarly, prices of 14.2-kg domestic LPG cylinders for about 33 crore consumers have not been altered. Prices of kerosene distributed under the Public Distribution System (PDS) also remain unchanged.

Overall, prices of around 80% of petroleum products have been kept stable to ensure predictability for the majority of consumers.

IOC emphasized that revisions are limited to select industrial sectors with relatively low consumption shares, aligned with global standards and monthly adjustments. The company noted changes in wholesale and commercial LPG cylinder prices, which constitute less than 1% of total consumption.

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Hindusthan Samachar / Jun Sarkar