The cost of jet fuel was cut by a record 14.7 percent on Tuesday in wake of declining international rates, making it cheaper than petrol and diesel.
According to a notification issued by state-owned oil firms yesterday, the price of Aviation Turbine Fuel (ATF) – which is used to power airplanes – was slashed by Rs 9,990 per kilolitre, or 14.7 percent, to Rs 58,060.97 per kl.
Prior to this, the cost of jet fuel was also slashed by Rs 8,327.8 per kl, or 10.9 percent, on December 1. The latest adjustment, however, marks the biggest ever single cut in the price of ATF.
The new rates, which are bound to provide some much-needed relief to cash-strapped airlines, are ironically even lesser than that of petrol and diesel in most cities, including Delhi and Mumbai.
ATF in Mumbai, home to one of the busiest airport in the country, costs Rs 58,017.3 per kl or Rs 58 per litre. In comparison, a litre of petrol in the city costs over Rs 74 and diesel is priced at over Rs 65 per litre currently.
On a separate note, the prices of petrol and diesel remained unchanged on Wednesday after six days of consecutive cuts. As of today, petrol is being retailed at Rs 74.30 and diesel at Rs 65.56 in Mumbai.Back to latest news