Jet fuel price Tuesday was cut by a record 14.7 per cent on the back of decline in international rates, making it cheaper than both petrol and diesel. The price of Aviation Turbine Fuel (ATF) — used to power airplanes — was slashed by Rs 9,990 per kilolitre, or 14.7 per cent, to Rs 58,060.97 per kl, according to price notification issued by state-owned oil firms.
This is the second straight monthly reduction in rates and the biggest single cut ever. Prices were slashed by Rs 8,327.83 per kl, or 10.9 per cent, on December 1.
The two consecutive price reduction has brought ATF rates to their lowest levels in a year and will provide much-needed relief to cash-strapped airlines. Rates are now cheaper than both petrol and diesel in most parts of the country and it is less expensive than even non-PDS kerosene in cities like Mumbai.
A litre of petrol, used in motorcycles and cars, costs Rs 68.65 in Delhi as compared to Rs 58,060.97 per kl or Rs 58.06 per litre price for ATF. Read More