Oil firms cut jet fuel price by Rs 169.3
Quotes

Oil firms cut jet fuel price by Rs 169.3

Last Updated: Sunday, April 15, 2012, 19:08
 
 Comment 0
 
Oil firms cut jet fuel price by Rs 169.3
New Delhi: After three rounds of price hike, state-owned oil companies Sunday announced a reduction in jet fuel prices by a marginal Rs 170 per kilolitre (kl).

The price of aviation turbine fuel (ATF), or jet fuel, in Delhi was reduced by Rs 169.3 per kl, or 0.25 percent, to Rs 67,631 effective from midnight tonight, Indian Oil Corp, making the announcement on behalf of the industry, said.

The marginal reduction comes on back of steep hikes in rates effected on March 1, March 16, and April 1. ATF rates were increased by 3.2 percent on March 1, Rs 1,298.88 per kl on March 16 and by another 2.8 percent on April 1.

Jet fuel was priced at Rs 62,557.12 per kl before the three price increases.

In Mumbai, jet fuel will cost Rs 68,631 per kl from tomorrow against Rs 68,806.82 per kl now.

Jet fuel constitutes over 40 percent of an airline's operating cost and the marginal reduction in prices will somewhat ease the burden of the cash-strapped airlines.

No immediate comment was available from the airlines on the impact of the price reduction on passenger fares.

The three fuel retailers -- IOC, Hindustan Petroleum and Bharat Petroleum -- revise jet fuel prices on the 1st and 16th of every month, based on the average international price in the preceding fortnight.

PTI



First Published: Sunday, April 15, 2012, 19:08


Comments


comments powered by Disqus
G20 Summit 2014
G20 Summit 2014
2014`s Top People in Business: Fortune
2014`s Top People in Business: Fortune
World Bank`s Top 10 Places for Business
World Bank`s Top 10 Places for Business
India`s top ten billionaires
India`s top ten billionaires
Top 10 billionaire cities- In Pics
Top 10 billionaire cities- In Pics

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved