Prior to these cuts, ATF prices were hiked on five occasions since July. Rates at different airports vary because of differential in local sales tax or value added tax.  (Prior to these cuts, ATF prices were hiked on five occasions since July. Rates at different airports vary because of differential in local sales tax or value added tax. )
Prior to these cuts, ATF prices were hiked on five occasions since July. Rates at different airports vary because of differential in local sales tax or value added tax.

(Prior to these cuts, ATF prices were hiked on five occasions since July. Rates at different airports vary because of differential in local sales tax or value added tax. )

Jet fuel prices cut by 3%

Prices were reduced on rupee firming up against the US dollar which made international oil cheaper

New Delhi: Jet fuel prices were on Monday cut by 3% on the back of rising rupee, the second reduction in rates this month that will ease burden on cash-strapped airlines. Aviation turbine fuel (ATF) price at T3 terminal in Delhi was cut by 2,117 per kilolitre (kl), or 3%, to 68,399 per kl with effect from midnight on Monday, according to Indian Oil Corp. (IOC), the nation’s largest fuel retailer.

The reduction, which comes on back of a steep 4.3% (3194.72 per kl) cut in rates effected from
1 October, was possible as rupee firmed up against the US dollar which made international oil cheaper.

Prior to these cuts, ATF prices were hiked on five occasions since July. In Mumbai, jet fuel will cost 68,731 per kl as against 70,949.97 per kl currently. Rates at different airports vary because of differential in local sales tax or value added tax

Kolkata would see price cut by 2,246 to 75,491 per kl while it will cost 72,120 in Chennai as against 74,423.43 per kl currently. Jet fuel constitutes over 40% of an airline’s operating costs and the reduction in prices will ease burden of the cash-strapped airlines. No immediate comments were available from the airlines on the impact of the price cut on passenger fares.

The three fuel retailers -- IOC, Hindustan Petroleum Corp. Ltd (HPCL) and Bharat Petroleum Corp. Ltd -- revise jet fuel prices on the 1st and 16th of every month, based on the average international price in the preceding fortnight. PTI

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