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Jet fuel or ATF price on Monday was cut by a marginal 0.5 per cent while rates of commercial LPG used by establishments such as hotels and restaurants were slashed by Rs 31 per cylinder in line with international prices.

Aviation turbine fuel (ATF) price was cut by Rs 502.91 per kilolitre or 0.49 per cent, to Rs 100,893.63 per kl in the national capital, according to a price notification of state-owned fuel retailers.

Rates in Mumbai have been cut to Rs 94,466.41 per kl from Rs 94,809.22.

Prices differ from state to state depending on the incidence of local taxes.

Alongside, oil firms also cut the price of commercial LPG by Rs 30.5 to Rs 1,764.50 per 19-kg cylinder.

Rates of the cooking gas used in domestic households however remained unchanged at Rs 803 per 14.2-kg cylinder.

This is the first reduction in commercial LPG prices since January. Rates had gone up Rs 14 per cylinder on February 1 and Rs 25.5 on March 1.

Also, the price of the 5 kg FTL (Free Trade LPG or market priced cooking gas) cylinder has been lowered by Rs 7.50.

State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) revise prices of ATF and cooking gas on 1st of every month based on the average price of benchmark international fuel and foreign exchange rate.