NEW DELHI: Jet fuel prices were slashed by 12 per cent after oil firms reverted back to fortnightly revisions to pass on the benefit of falling crude oil prices, but rates of petrol and diesel remained unchanged for the seventh straight day to adjust the hike in excise duty.
State-owned oil firms cut aviation turbine fuel (ATF) price by Rs 6,687.75 per kilolitre (kl) or 11.76 per cent, to Rs 50,171.26 per kl – the lowest since September 2017, according to a price notification of oil marketing companies.
This is the third straight reduction in jet fuel rates since February, which make up for as much as 40 per cent of an airline’s running cost. In all, rates have fallen by Rs 14,152.5 per kl or 22 per cent.
