Revised ATF prices in Delhi
NEW DELHI: State-owned oil firms on Tuesday cut jet fuel, or ATF, prices by 4 per cent, the first reduction in rates since July, on softening of international oil prices.
Aviation Turbine Fuel (ATF) rates in Delhi will come down by Rs 1,715 per kilolitre (kl), or 4.09 per cent, to Rs 40,138 per kl from midnight tonight, said an official of Indian Oil Corp, the nation's largest fuel retailer.
The rates for Bharat Petroleum and Hindustan Petroleum, the other dominant jet fuel retailers, will see a similar price hike, as the three state-run firms fix prices in tandem.
The reduction follows two successive rise in prices on August 1 and 16.
In Mumbai, the price of ATF were reduced by Rs 1,800, or 4.16 per cent, to Rs 41,388 per kl.
IOC, BPCL and HPCL revise jet fuel prices on the first and the 16th of every month, based on the average global oil price in the previous fortnight. Today's price cut is only the third this fiscal, the previous reductions being on June 1 and July 16.
ATF rates have gone up on 10 occasions since March. Jet fuel in Delhi was priced at Rs 37,982.22 per kl in the second half of February before international oil rates started firming up, resulting in an increase in domestic rates.
Today's cut in fuel rates will reduce the burden on Indian air carriers, but no comments could immediately be obtained from airlines about the impact on passenger fares.
The ATF price in Kolkata was reduced by Rs 1,799 to Rs 48,462 per kl, while in Chennai, it came down from Rs 46,255 to Rs 44,397 per kl.
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