Bengal levy cut lifts aviation turbine fuel sales

Indian Oil has recorded a whopping 63 per cent jump in consumption of aviation turbine fuel (ATF) on the back of the Mamata Banerjee government’s decision to slash local levies on the fuel and a rapid rise in aircraft movement out of the state.

In contrast, the retailer’s sale of ATF, which usually constitute nearly 40 per cent of an airline’s operating cost, only grew 1.2 per cent nationally during the first 10 months of this fiscal.

IOC is India’s largest retailer of petroleum products and its market share in sale of ATF is over 70 per cent in the eastern region, which includes Bengal.

Bengal finance and industry minister Amit Mitra attributed the growth to the policy of the Bengal government.