New Delhi: State-owned oil marketing companies (OMCs) on Thursday cut aviation fuel prices by Rs.350.70 or 0.56 per cent a kilolitre (kl), effective from midnight Friday.
With this, the price of air turbine fuel (ATF) at Indira Gandhi International Airport will come down from Rs.62,907.82 a KL to Rs.62,557.12 per KL.
Just a fortnight ago, Indian Oil, Bharat Petroleum and Hindustan Petroleum had raised the price by Rs.1,974.29 per kl or 3.04 per cent.
The latest cut is expected to reduce the burden on the aviation industry, where many airlines are incurring losses due to the high cost of jet fuel.
"Any reduction in ATF prices is a welcome step. But there is still a long way to go in rationalizing our domestic ATF prices which are nearly 50-60 per cent higher than that in our competing markets like Middle East and Southeast Asia," Amber Dubey, director, aviation, at consultancy firm KPMG told reporters.
16/02/12 IANS/Economic Times
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