ATF prices cut by 12%

State-run oil companies cut aviation turbine fuel prices by over 12 per cent or Rs 5,580 per kilolitre.

State-run oil companies cut aviation turbine fuel prices by over 12 per cent or Rs 5,580 per kilolitre in line with fall in international oil prices.

With this reduction, the ATF or jet fuel prices are at par with levels that prevailed in September 2007.

Jet fuel price in Delhi was cut by Rs 5,585.19 per kl to Rs 39,380.51 per kl with effect from midnight tonight, an official of Indian Oil Corp, the nation’s largest fuel

retailer, said.

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This is the fifth cut in ATF prices since August when the prices rose to all time high of Rs 71,028.26 per kl. Jet fuel prices have been slashed every month since then and this month this is the third cut – the first being the monthly reduction which was followed by lowering of prices due to abolition of customs duty on the fuel.

Prices have been lowered further because oil companies have now shifted to fixing rates in every 15 days instead of the previous practice of revising the prices based on average oil price in the preceding month.

ATF price in Mumbai, home to the busiest airport in the country, will come down to Rs 40,687.42 per kl from Rs 46,518.85 per kl.

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