Aviation fuel prices cut by 4%; airlines still to decide on fares

New Delhi: For the second fortnight in a row, state-owned oil companies on Tuesday cut jet fuel prices by about 4 per cent after international oil rates cooled off from a two-year high.
Oil companies reduced aviation turbine fuel (ATF) price by Rs. 2,327.89 per kilolitre or 3.95 per cent, to Rs. 56466.11 per kl in Delhi with effect from Tuesday midnight, an official of Indian Oil Corp, the nation's largest fuel retailer, said.
Jet fuel rates had for the first time in eight months been cut on May 16 when prices were reduced by 2.9 per cent. In two reductions, ATF price have come down by Rs. 4094 per kl this month.
The official said the basket of crude oil India buys has averaged less than $110 per barrel in the second fortnight of May which was taken into account for calculating the desired selling price of ATF from June 1. The average of Indian basket of crude oil was over $114 per barrel in the first fortnight and $118 per barrel in April.
31/05/11 Press Trust of India/NDTV.com

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Categories: Indian Aviation- In General Jun 2011