Oil firms further cut aviation fuel prices

November 4th, 2008 - 12:11 am ICT by IANS  

New Delhi, Nov 3 (IANS) State-run oil firms Monday cut aviation fuel prices further by Rs.2,100 per kilolitre, after the government exempted customs duty on fuel last week.Oil majors Indian Oil, Hindustan Petroleum and Bharat Petroleum from Nov 1 cut aviation fuel price by Rs.9,429.87 per kilolitre to Rs.47,017.93 per kilolitre in Delhi following the fall in international oil prices.

The government on Oct 31 exempted aviation fuel from five percent import duty.

As a result, aviation fuel price for domestic airlines would come down further by Rs.2,100 per kilolitre from midnight Monday night.

For international airlines, the reduction would be $35 per kilolitre, said an official of an oil company. Foreign airlines do not pay local taxes or value added taxes.

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