Jet fuel (ATF) prices on Monday were cut by the steepest ever 12 per cent, the second reduction in as many weeks, on softening international oil prices amid recessionary fears.
Aviation turbine fuel (ATF) prices were cut by Rs 16,232.36 per kilolitre, or 11.75 per cent, to Rs 121,915.57 per kl in the national capital, a price notification of state-run retailers showed.
This is the steepest ever reduction in rates and follows a Rs 3,084.94 per kl (2.2 per cent) reduction effected on July 16.
Parallelly, the rates of commercial LPG – the one used by hotels, restaurants and other business establishments – was cut by Rs 36 to Rs 1,976.50 per 19-kg cylinder. This is the fourth reduction in commercial LPG rates since May.
