Business Recorder
India’s largest state-run refiner Indian Oil Corporation has raised the prices of liquefied petroleum gas used by industries and jet fuel for foreign airlines from Friday, the company said in a statement. The price of a 19-kilogram commercial LPG cylinder for industrial clients was hiked by 993 rupees, or 47.8%, to 3,071.5 rupees, the refiner said. Aviation turbine fuel prices for international airlines were raised by $76.55 per kilolitre to $1,511.86 per kilolitre from $1,435.31, the refiner added. Prices of household LPG , primarily used as cooking fuel, were left unchanged. Jet fuel prices for domestic airlines were also not revised, the company said. The price hikes come amid a sharp surge in global oil prices, which have climbed above $100 a barrel following the closure of the Strait of Hormuz amid the ongoing Iran war.
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