Jet fuel prices slashed by over 3%

New Delhi: State-owned oil companies today slashed jet fuel prices by over 3% as an appreciating rupee made imports cheaper.
The price of aviation turbine fuel (ATF), or jet fuel, in Delhi was cut by Rs 1,974 per kilolitre (kl), or 3.02%, to Rs 62,908 per kl with effect from midnight tonight, an official of the nation's largest fuel retailer Indian Oil Corporation said.
The reduction comes in the wake of a steep Rs 1,805.44 per kl, or 2.9%, hike in jet fuel rates to Rs 64,882.11 per kl from January 16.
The official said the reduction was possible as the rupee has appreciated to about Rs 49.50 per US dollar from over Rs 52 to a dollar at the time of the last hike.
Prior to the last hike, IOC and sister public sector fuel retailers Hindustan Petroleum and Bharat Petroleum had reduced ATF prices twice -- by 1.3% on December 16 and by about 1% from January 1.
31/01/12 PTI/Times of India

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Categories: Indian Aviation- In General Feb 2012