Oil companies reduce jet fuel rates by 1.3%

New Delhi: After three consecutive price hikes, state-owned oil companies Thursday cut jet fuel rates by 1.3% in step with softening in commodity's international rates.
The price of aviation turbine fuel (ATF), or jet fuel, in Delhi was cut by Rs833 per kilolitre (kl), or 1.3%, to Rs63,739 per kl with effect from midnight tonight, an official of Indian Oil corp, the nation's largest fuel retailer said.
The reduction comes on back of a steep 3.7% hike in rates effected from December 1. Prior to that, ATF rates had been increased by Rs1,195 per kl from November 16 and by 3.8% or Rs2,845 per kl from November 1.
The official said the reduction was possible because fall in international jet fuel prices has offset weakening of the rupee against the US dollar.
ATF in Mumbai will cost Rs64,730 per kl from tomorrow as against current rate of Rs65650.27 per kl, a decrease of Rs920 per kl.
15/12/11 Daily News & Analysis

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Categories: Indian Aviation- In General Dec 2011