Page 2 - Jet Fuel

Jet fuel prices slashed by 7% on softening international oil prices

Price of commercial LPG, which is used by business establishments like hotels and restaurants, on Thursday was cut by Rs 83.5 per 19-kg cylinder -- the third straight monthly reduction, while rates of jet fuel (ATF) were slashed by 7 per cent on softening international oil prices. A 19-kg commercial LPG now costs Rs 1,773 in the national capital, down from Rs Rs 1,856.5, according to price notification from state-owned fuel retailers. This is the third straight monthly reduction in commercial LPG prices. Rates were cut by Rs 91.5 per 19-kg cylinder on April 1, and by a steep Rs 171.5 on May 1. The three reductions have almost wiped out the Rs 350.5 per cylinder hike in prices effected from March 1. The price of domestic LPG -- the one households use in the kitchen for cooking purposes -- remained unchanged at Rs 1,103 per 14.2-kg cylinder in the national capital. Domestic LPG rates were last changed on March 1, when they were hiked by Rs 50 per cylinder. State-owned Indian Oil .

Govt may mandate 1% green jet fuel in all commercial flights by '25: Puri

Transition within 2 years, says Puri amid global pressure on Indian carriers

India cuts windfall tax on petroleum crude from Rs 4,100 per tonne to zero

Prior to this, the government announced the reimposition of the windfall profit tax on domestically produced oil from zero to Rs 6,400 per tonne. The government also scrapped the export duty on diesel

ATF rates reduced by 2.45% on heals of falling international oil prices

Price of commercial LPG, one which is used by business establishments like hotels and restaurants, on Monday was cut by a steep Rs 171.5 per cylinder and rates of jet fuel (ATF) were reduced by by 2.45 per cent on softening international oil prices. A 19-kg commercial LPG now costs Rs 1,856.5 in the national capital, down from Rs 2,028, according to price notification from state-owned fuel retailers. This is the second straight monthly reduction in commercial LPG prices. Rates were cut by Rs 91.5 per 19-kg cylinder on April 1. The two reductions, however, haven't neutralised the Rs 350.5 per cylinder hike in prices effected from March 1. Domestic cooking gas LPG prices remained unchanged at Rs 1,103 per 14.2-kg cylinder in the national capital. Domestic LPG rates were last changed on March 1, when they were hiked by Rs 50 per cylinder. State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) revised cooking g

Jet fuel price hiked 4% by Rs 4,218 per KL in line with rising oil rates

Jet fuel (ATF) price on Wednesday was hiked by 4 per cent in line with firming international oil prices but petrol and diesel rates remained on freeze for a record 10th month in running. Aviation turbine fuel (ATF) price was increased by Rs 4,218 per kilolitre, or 3.9 per cent, to Rs 1,12,356.77 per kl in the national capital, according to a price notification of state-owned fuel retailers. The increase follows three rounds of reduction since November. The price on January 1 was reduced to Rs 1,08,138.77 per kl from Rs 1,17,587.64. Prior to that, the price was slashed by 2.3 per cent on December 1 and 4.19 per cent on November 1. The rate hike will increase the burden on airlines for whom fuel makes for almost 40 per cent of the operating cost. ATF price is revised on the 1st of every month based on the average rate of international benchmark and foreign exchange rates. Petrol and diesel prices, however, continued to remain on freeze for a record tenth month in a row. Petrol costs

Jet fuel price slashed by 2.3% as international oil price softens

Jet fuel (ATF) price was on Thursday reduced by 2.3 per cent, reflecting softening international oil prices but petrol and diesel rates remained on freeze for a record eighth month in running. Aviation Turbine Fuel (ATF) price was cut by Rs 2,775 per kilolitre, or 2.3 per cent, to Rs 1,17,587.64 per kl in the national capital, according to a price notification of state-owned fuel retailers. The rate reduction, which will provide relief to airlines for whom fuel makes for almost 40 per cent of the operating cost, comes on the back of a Rs 4,842.37 per kl, or 4.19 per cent, reduction last month. ATF price is revised on the 1st of every month based on the average rate of international benchmark and foreign exchange rates. Petrol and diesel prices, however, continued to remain on freeze for a record eighth month in a row. Petrol costs Rs 96.72 per litre in the national capital and diesel comes for Rs 89.62. State-owned fuel retailers are supposed to revise petrol and diesel prices dai

India's big plans for cleaner aviation fuel face a string of hurdles

in Dehradun, scientists are working with partners including Boeing Co. to get global approvals for their biofuel, which is made from waste cooking oil and the seeds of plants

Govt looking at mandating jet fuel blending with sustainable fuel: Official

The government is working on mandating blending of jet fuel with sustainable aviation fuel as the country works on ways to reduce emissions, Civil Aviation Secretary Rajiv Bansal said on Tuesday. "We are committed to reducing emissions by fossil fuels... the (civil aviation) ministry is working closely with the ministry of petroleum and natural gas on the issues related to Sustainable Aviation Fuel (SAF)," he said. He was speaking at the IATA Aviation Energy Forum here. The International Air Transport Association (IATA) is an international grouping of airlines. Bansal said both ministries are working to mandate a certain percentage of blending. "... that is still work in progress. We do realise that unless we mandate over a period of time, demand will not be created," he added. Elaborating on SAF, he said there are two important things -- the feed stock and production. "Do we have as a country adequate feedstock for producing SAF? Are there technologies in place, proven, time-test

Jyotiraditya Scindia urges states and UTs to reduce tax on jet fuel

Union Civil Aviation Minister Jyotiraditya Scindia on Tuesday said there is a huge demand for air travel after the pandemic and urged eight states and Union Territories to reduce the tax on jet fuel. Air traffic growth will be driven by smaller cities, he said while speaking at the Civil Aviation Ministers' conference in the national capital. Domestic air traffic is inching closer to pre-Covid level and in recent times, the daily passenger numbers crossed the four lakh mark twice. Scindia said that Value Added Tax (VAT) on jet fuel is still high in eight states and Union Territories in the range of 20-30 per cent and urged them to reduce the rate. Jet fuel cost accounts for a significant part of an airline's operational costs. The minister requested Goa, Assam, Delhi, Maharashtra, West Bengal, Rajashthan, Bihar and Tamil Nadu to reduce the VAT on Aviation Turbine Fuel (ATF). "New growth to come from Tier 2 and 3 cities," he said and emphasised the need to bring down entry barrie

Oil ministry says windfall profit tax response to dynamic situation

The oil ministry on Tuesday said the levy of windfall profit tax was a response to a dynamic situation and its design provides for recalibration based on market inputs and feedback. "Crude oil prices have witnessed extreme volatility in 2022. This has resulted in very high prices for end consumers at petrol pumps. "Countries around the world have implemented various measures to mitigate the adverse impacts on consumers. 'Windfall tax' is one of the measures which helps in dealing with the situation," the ministry said in a statement. India first imposed windfall profit tax on July 1, joining a growing number of nations that tax super normal profits of energy companies. While duties were slapped on the export of petrol, diesel and jet fuel (ATF), a Special Additional Excise Duty (SAED) was levied on locally produced crude oil. "The extent of its applicability, reference period, amount of cess/ tax/ duty, the incidence of tax liability, a mechanism for review are integral to such a .

Oil ministry seeks review of windfall tax; wants certain fields exempt

The oil ministry has sought a review of the two-and-a-half-month old windfall profit tax on domestically produced crude oil saying it goes against the principle of fiscal stability provided in contracts for finding and producing oil. The ministry in the August 12 letter, reviewed by PTI, sought exemption for fields or blocks, which were bid out to companies under Production Sharing Contract (PSC) and Revenue Sharing Contract (RSC), from the new levy. It stated that companies have been since the 1990s awarded blocks or areas for exploration and production of oil and natural gas under different contractual regimes, wherein a royalty and cess is levied and the government gets a pre-determined percentage of profits. The ministry, according to the letter, was of the opinion that the contracts have an in-built mechanism to factor in high prices as incremental gains get transferred in form of higher profit share for the government. Emails sent to the oil ministry as well as the finance ..

Top headlines: GST collections rise 28% in Aug; export tax on diesel hiked

The government raised the tax on the export of diesel and jet fuel (ATF) and hiked the windfall profit levy on domestically-produced crude oil in line with rising product margins and oil prices

Export tax on diesel, ATF hiked; windfall tax on domestic oil production up

The government has hiked the windfall profit tax on the export of diesel to Rs 13.5 per litre and that on jet fuel exports to Rs 9 per litre. The levy on domestically-produced crude oil too has been increased by Rs 300 per tonne to Rs 13,300. At the fourth fortnightly review, the government raised the windfall profit tax on the export of diesel to Rs 13.5 per litre from Rs 7, while on ATF (Aviation Turbine Fuel) exports, it was hiked to Rs 9 per litre from Rs 2, according to a finance ministry notification issued on Wednesday.

New pricing model aiming to prune jet fuel cost by 15% likely in two months

OMCs to shift to single uniform system instead of the prevailing dual pricing mechanism for domestic and overseas airlines

Govt will re-evaluate airfare cap depending on ATF price movement: Scindia

Scindia said that as it stands today, the fares of airlines are not close enough to the low portion of the fare cap and are very far away from the high portion of the fare cap.

ATF rates slashed by 2.2% on account of fall in international oil prices

Jet fuel (ATF) prices on Saturday were reduced by 2.2 per cent, reflecting a fall in international oil prices

Focus on windfall tax review leads to oil stocks ending in the green

Export taxes on petrol are likely to see the steepest reduction, while levies on diesel and jet fuel could also be lowered to adjust the impact of price declines

Govt to review windfall tax on crude oil and fuel exports every fortnight

The review is based on the premise that if crude prices fall, then windfall gains will cease and new taxes would be rollback

Top headlines: Gold import duty raised to 15%, GST receipts up 56% in June

India's factory output expanded at its slowest pace in nine months in June. More on that in our top headlines

Cost turbulence, rising competition may put pressure on airline stocks

Price hikes may plague demand, robust passenger traffic notwithstanding