State-owned oil companies today cut aviation turbine fuel (ATF) prices by 6.8 per cent, making it the eighth straight reduction since September.
Jet fuel rate in Delhi has been cut by Rs 2,234.07 to Rs 30,457.21 per kilolitre effective midnight tonight, said an official of Indian Oil Corporation, the nation's largest fuel retailer.
The fuel that fires airplanes currently costs Rs 32,691.28 per kl.
This is the eighth straight cut in jet fuel prices since the rates soared to an all time high of Rs 71,028.26 per kl (in Delhi) in August. With international oil prices cooling since, the fuel prices have been slashed in subsequent months.
Jet fuel or ATF prices are now at July 2005 levels and have already triggered a spate of reduction in airfares by some airlines.
In Mumbai, the home to the nation's busiest airport, ATF will cost Rs 31,378.78 per kl from tomorrow against Rs 33,719.47 per kl at present.
Since last month, Indian Oil, Bharat Petroleum and Hindustan Petroleum revise jet fuel prices twice a month - on the 1st and 16th - based on the average imported price in the preceding fortnight.
The three firms had in December cut jet fuel prices on an average by Rs 2,480 per kl and then by 11 per cent or Rs 4,208 per kl.
