ATF prices slashed for the second time in September

In a respite for cash-strapped Indian airlines, the price of aviation turbine fuel (ATF) was slashed on Wednesday for the second time in September, as the global crude prices fell during the past few days following price cuts from Gulf producers as a result of slack demand due to the ongoing covid-19 pandemic.

Indian Oil Corporation Limited (IOC) revised its ATF, or Jet fuel, prices on 16 September, which stood at Rs39,492.53 per kilolitre in New Delhi, down from 1 September price of Rs42,447.91 per kilolitr.

ATF rates are revised on the first and sixteenth day of each month to bring them at par with international crude oil prices and forex rates.

ATF prices had been raised in June, followed by price hikes in July and August before they were slashed in September.