Aviation fuel price cut again, by 7 percent

February 28th, 2009 - 7:35 pm ICT by IANS  

New Delhi, Feb 28 (IANS) State-run oil companies Saturday slashed aviation turbine fuel (ATF) prices by seven percent, the 11th reduction since September last year.
From March 1, jet fuel price will go down Rs.2,052 per kilolitre to Rs.27,106 in Delhi, while it will cost Rs.27,861 per kilolitre in Mumbai, an official of Indian Oil Corporation (IOC) said.

Similarly in Kolkata and Chennai, ATF would now cost respectively Rs.34,847 and Rs.30,317 per kilolitre.

Oil companies cut ATF prices by 3.7 percent Feb 16. The jet fuel is currently priced at early 2005 levels, officials said.

IOC, Bharat Petroleum Corp and Hindustan Petroleum Corp revise their ATF rates on first and 16th of every month. The prices are based on the average international jet fuel rates in the preceding fortnight.

ATF prices peaked to Rs.71,028.26 per kilolitre in Delhi in August 2008 when international crude prices touched $147 a barrel. But they have since been slashed every month till October and twice in November and generally continued since then.

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