Jet fuel prices were on Monday cut by 3% on back of rising rupee, the second reduction in rates this month that will ease burden on cash-strapped airlines.
Aviation Turbine Fuel (ATF) price at T3 terminal in Delhi was cut by Rs2,117 per kilolitre (kl), or 3%, to Rs68,399 per kl with effect from Monday night, according to Indian Oil Corp, the nation's largest fuel retailer.
The reduction, which comes on back of a steep 4.3% (Rs 3194.72 per kl) cut in rates effected from October 1, was possible as rupee firmed up against the US dollar making and cheaper international oil.
Prior to these cuts, ATF price were hiked on five occasions since July.
In Mumbai, jet fuel will cost Rs68,731 per kl as against Rs70,949.97 currently.
15/10/12 PTI/Daily News & Analysis
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Aviation Turbine Fuel (ATF) price at T3 terminal in Delhi was cut by Rs2,117 per kilolitre (kl), or 3%, to Rs68,399 per kl with effect from Monday night, according to Indian Oil Corp, the nation's largest fuel retailer.
The reduction, which comes on back of a steep 4.3% (Rs 3194.72 per kl) cut in rates effected from October 1, was possible as rupee firmed up against the US dollar making and cheaper international oil.
Prior to these cuts, ATF price were hiked on five occasions since July.
In Mumbai, jet fuel will cost Rs68,731 per kl as against Rs70,949.97 currently.
15/10/12 PTI/Daily News & Analysis
