Prices of Aviation Turbine Fuel (ATF) or jet fuel sold to airlines have been revised and the changes will be effective from today. ATF price has been slashed by Rs 3,302.25/kL to Rs 77,532.79/kL or $817.37/kL in Delhi. Aviation turbine fuel now sells for Rs 75,944.70/kL or $811.12/kL in Mumbai. Jet fuel costs Rs 81,642.13/kL or $856.56/kL in Kolkata while it costs Rs 79,763.23/kL or $811.54/kL in Chennai, according to data from Indian Oil Corporation (IOC).
The fall in prices comes as several states have cut the excise duty on aviation fuel after requests from the Central government as ATF accounts for a major chunk of an airline’s operational costs. With the current tax structure on ATF, “you cannot have a robust civil aviation sector. I am very clear on that,” Union Civil Aviation Minister Jyotiraditya Scindia said.
Madhya Pradesh has slashed excise duty on ATF to 4 per cent at Bhopal and Indore airports whereas Tripura and Haryana have reduced the tax levied on ATF to 1 per cent. Other states to slash excise duty on ATF are Andaman and Nicobar Islands, Jammu and Kashmir, Himachal Pradesh and Uttarakhand.
01/12/21 BusinessToday.in
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