Aviation fuel prices slashed, but fares unlikely to be cut
July 15th, 2009 - 9:17 pm ICT by IANSNew Delhi, July 15 (IANS) With a fall in international prices of crude, state-run oil companies Wednesday slashed aviation fuel prices by almost 6 percent. The new prices will be effective Wednesday night and come after four consecutive hikes.
Aviation fuel will now cost Rs.2,220 less per kilolitre. In Delhi, it will cost at Rs.36,338 a kilolitre, and in Mumbai Rs.37,475 a kilolitre.
However, air fares are unlikely to come down, according to an airline official.
The three state-owned oil companies - Indian Oil Corp, Bharat Petroleum and Hindustan Petroleum - last raised prices July 1 by Rs.2,307 per kilolitre.
Aviation fuel prices are revised every fortnight according to the crude prices prevailing in the international markets.
US crude oil for August delivery had fallen 20 cents Monday to $59.69 a barrel, after earlier touching a new low of $58.32, the lowest since May 18 this year.
Aviation fuel prices in India rose to their peak last August at Rs.71,028 per kilolitre in Delhi when international crude prices peaked to a record high of $147 a barrel.
Fuel expenditure constitutes a major chunk of an airline’s operational costs, about 35 percent.
- Aviation fuel prices hiked again - Jun 30, 2009
- Jet, Kingfisher domestic fares up Rs.200 - Nov 06, 2009
- Oil firms hike jet fuel price by over 6 percent - Jan 15, 2010
- Indian Oil Corporation raises jet fuel prices by 4.5 percent - Jan 31, 2011
- Jet fuel price cut by Rs.622 a kilolitre - Dec 31, 2011
- Jet fuel price cut by Rs.1,974 a kilolitre - Jan 31, 2012
- Jet fuel price cut by Rs.350.70 a kilolitre - Feb 16, 2012
- Oil firms cut jet fuel prices by 2.5 percent - Feb 15, 2010
- Aviation fuel prices raised 3.6 percent - Dec 15, 2010
- Aviation fuel prices cut by Rs.311 per kilolitre - Apr 30, 2009
- Petrol, aviation fuel prices to be hiked from midnight (Lead) - Jan 15, 2011
- Aviation fuel prices further slashed by four percent - Feb 01, 2009
- IOC again hikes ATF prices by 2 percent - Dec 31, 2010
- Aviation fuel price cut again, by 7 percent - Feb 28, 2009
- Government approves direct jet fuel import, Air India debt plan (Lead) - Feb 07, 2012
Tags: air fares, airline official, aviation fuel prices, bharat petroleum, chunk, crude oil, crude prices, fortnight, hindustan petroleum, India, indian oil, international markets, july 1, New Delhi, oil companies, operational costs, wednesday night