Jet fuel Price Reduced By 3%

New Delhi: The price of jet fuel, or ATF, was on Sunday slashed by 3 per cent - the third straight monthly reduction on softening international benchmark prices. The fall in international benchmark oil and gas prices also led to a Rs 24 per 19-kg cylinder cut in rate of commercial LPG used in hotels and restaurants. The price of aviation turbine fuel (ATF) was reduced by Rs 2,414.25 per kilolitre, or 2.82 per cent, to Rs 83,072.55 per kl in the national capital - home to one of the busiest airports in the country, according to state-owned fuel retailers.

The price cut follows a 4.4 per cent (Rs 3,954.38 per kl) reduction on May 1 and a steep 6.15 per cent (Rs 5,870.54 per kl) reduction effected from April 1. Together with Sunday’s reduction, the price cuts have more than offset the hikes that occurred earlier this year. A reduction in price of ATF will ease the burden on commercial airlines, for whom fuel makes up for almost 40 per cent of the operating cost. No immediate comments could be obtained from the airlines on the price reduction.

International oil prices have softened in the last couple of months as global trade war eroded the outlook for fuel demand.