Jet Fuel Price Reduced by 1 Per Cent - The New Indian Express

Jet Fuel Price Reduced by 1 Per Cent

Published: 02nd May 2014 06:00 AM

Last Updated: 02nd May 2014 12:42 AM

Aviation Turbine Fuel (ATF) or jet fuel prices were slashed by a per cent on Thursday, the second time since April after international crude oil prices eased.

According to the country’s largest fuel retailer Indian Oil Corporation following the reduction ATF in Delhi will now cost Rs 71,033.87 per kilo litre.

Earlier in April ATF price was reduced by 4 per cent, or Rs 3,025.34 per kl.

Official sources said international oil prices fell, negating the depreciation of the rupee against the US dollar.

n Mumbai, jet fuel costs Rs 73,306.89 per kl as against Rs 74,105.16 per kl previously, IOC said. Rates at different airports vary because of local sales tax or VAT.

Jet fuel constitutes over 40 per cent of an airline’s operating costs and the price cut will reduce the financial burden of the cash-strapped carriers.

Reduced ATF price promises to bring in some cheer for airlines as their loads are expected to increase in the forthcoming holiday season.

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