Aviation fuel prices slashed, but fares unlikely to be cut

New Delhi: With a fall in international prices of crude, state-run oil companies Wednesday slashed aviation fuel prices by almost 6 percent. The new prices will be effective on Wednesday night and come after four consecutive hikes.
Aviation fuel will now cost Rs.2,220 less per kilolitre. In Delhi, it will cost at Rs.36,338 a kilolitre, and in Mumbai Rs.37,475 a kilolitre.
However, air fares are unlikely to come down, according to an airline official.
The three state-owned oil companies - Indian Oil Corp, Bharat Petroleum and Hindustan Petroleum - last raised prices July 1 by Rs.2,307 per kilolitre.
Aviation fuel prices are revised every fortnight according to the crude prices prevailing in the international markets.
US crude oil for August delivery had fallen 20 cents Monday to $59.69 a barrel, after earlier touching a new low of $58.32, the lowest since May 18 this year.
15/07/09 IANS/Economic Times

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Categories: Indian Aviation- In General Jul 2009