Jet fuel prices were slashed by 12% after oil firms reverted back to fortnightly revisions to pass on the benefit of falling crude oil prices, but rates of petrol and diesel remained unchanged for the seventh straight day to adjust the hike in excise duty.
State-owned oil firms cut aviation turbine fuel (ATF) price by ₹6,687.75 per kilolitre (kl) or 11.76% to ₹50,171.26 per kl, the lowest since September 2017, according to a price notification of oil marketing companies.
This is the third straight reduction in jet fuel rates since February, which make up for as much as 40% of an airline’s running cost. In all, rates have fallen by ₹14,152.5 per kl or 22%.
ATF prices, which already were lower than petrol and diesel, are now even lower than the rates of non-subsidised kerosene which comes for ₹58,818.07 per kl, according to price notification of oil firms.
Petrol price remained unchanged at ₹69.59 a litre in Delhi and diesel at ₹62.29 for the seventh day in a row, as oil firms adjusted the ₹3 per litre hike in excise duty on the two fuels effected by the government on March 13.
