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OMCs cut Jet fuel price by 2.2% on Fall in International Crude, rates come off Peak, big relief for airline

By Priyanka Verma 
Updated Date

New Delhi: On Saturday, Big relief for airline as, Jet Fuel Price cut By 2.2% due to fall in International oil prices Jet fuel (ATF) prices. Aviation turbine fuel (ATF) prices were cut by ₹ 3,084.94 per kilolitre, or 2.2 per cent, to ₹ 138,147.93 per kl, a price notification of state-run fuel retailers showed.

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Revised ATF Prices in Metros:

Delhi: ATF price cut to Rs. 138,147.95/kl from Rs. 141,232.87
Mumbai: Rs. 137,095.74/kl
Kolkata: Rs. 144,575.71
Chennai: Rs. 143,212.25/kl

This year, this is only the second reduction in rates. There was no change in rates form July 1. Prices had peaked to Rs 141,232.87 per kl (Rs 141.23 per litre) last month. ATF prices are revised on the 1st and 16th of every month based on rates of benchmark international oil rates in the previous fortnight.

Earlier, prices were hiked by the steepest ever 16 per cent to catapult rates to an all-time. golbal oil prices have softened since on fears of recession in major economies. Oil prices are at pre-Ukraine war levels.

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A marginal 1.3 per cent (Rs 1,563.97 per kl) cut in rate on June 1. before this On June 16, the price of ATF — the fuel that helps aeroplanes fly — was increased by ₹ 19,757.13 per kl. since the start of the year in all, rates have been increased 11 times This has led to rates almost doubling in six months.

Before the cut on Saturday, prices had gone up by 91 per cent (Rs 67,210.46 per kl) since January 1. With jet fuel making up almost 40 per cent of the operating cost of an airline, the increase in prices had resulted in a rise in the cost of flying. Now there has been a marginal relief.

Meanwhile, petrol and diesel prices remained unchanged at ₹ 96.72 per litre and ₹ 89.62 a litre, respectively. An excise duty cut by the government had helped reduce the price of petrol by ₹ 8.69 a litre and diesel by ₹ 7.05 per litre on May 22. But for that, the base price has remained unchanged since April 6.

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