ATF price reduced by 2.3 pc to Rs 1.17 lakh per kilolitre

Jet fuel (ATF) price was cut 2.3 percent on Thursday, reflecting falling international oil prices but petrol and diesel rates remained frozen for a record eighth current month. aviation The price of turbine fuel (ATF) was slashed by Rs 2,775 per kilolitre, or 2.3 per cent, to Rs 1,17,587.64 per kilo in the national capital, according to a price report from state fuel retail companies.



The fare cut, which will provide relief to airlines for whom fuel accounts for nearly 40 per cent of operating costs, follows a cut of Rs 4,842.37 per kl, or 4.19 per cent, last month.

The ATF price is revised on the 1st of each month based on the international benchmark average rate and exchange rates.

However, petrol and diesel prices continued to freeze for the eighth month in a row. Petrol costs Rs 96.72 per liter in the national capital and diesel costs Rs 89.62.

State-owned fuel retailers are expected to review gasoline and diesel prices daily based on a 15-day moving average of the international benchmark fuel prices but they haven’t done that since April 6.

Prices were last changed on May 22, when the government cut excise taxes to relieve consumers from a spike in retail rates that followed a rise in international oil prices.

Also, the price of commercial LPG, whose rate is also revised on the 1st of each month, remained unchanged after seven cuts on Thursday.

A commercial 19 kg LPG cylinder, used by hotels, restaurants and other corporate establishments, continues to cost Rs 1,744 in the national capital.

In seven cuts, rates had previously fallen by Rs 610 per 19kg cylinder.

However, the amount of LPG used in domestic kitchens remained unchanged at Rs 1,053 per 14.2 kg cylinder.

Rates vary from state to state depending on the incidence of local taxes.