Oil PSUs slash ATF prices

Mumbai: With the oil prices stable at $68 per barrel, public sector oil firms slashed jet fuel (aviation turbine fuel — ATF) prices by 1.9%, the first reduction since February.
ATF prices in Delhi were cut to Rs 36,746.53 per kilolitre from Rs 37,421.94 per kl. In Mumbai, the prices were reduced by Rs 717.09 per kl to Rs 37,973.3 per kl.
Oil firms had raised jet fuel prices for three consecutive months since February. The ATF price for foreign airlines, which do not pay local sales tax, was cut to $697.89 per kl from $707.12 per kl in Delhi.
It is to be seen whether airlines pass on this relief on consumers following the cut in ATF prices by oil companies.
Sources said that airline companies have made repeated pleas to the Centre to bring in transparency in the pricing of ATF. They had recently welcomed the Reserve Bank of India’s decision to allow domestic airlines to hedge risk on ATF lifted by them.
02/06/07 Financial Express

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Categories: General Aviation Jun 2007