CorporatePSU oil firms cut jet fuel prices by 5.7%
After increasing it four times in a row, the state-run oil firms today cut jet fuel prices by 5.7 per cent on easing international rates.
Aviation Turbine Fuel(ATF) rates in Delhi were lowered by Rs 2,221 per kilolitre to Rs 36,338 per kl, effective midnight tonight, an official of Indian Oil Corp (IOC) said.
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Jet fuel in Kolkata will be cheaper at Rs 44,411 per kl from Rs 46,710.92 per kl, while in Chennai the price has been reduced by Rs 2,360 per kl to Rs 40,164 per kl.
ATF prices had peaked to Rs 71,028.26 per kl (in Delhi) in August last year on international crude prices touching a historic high of $147 a barrel. But subsequently the rates had come down, slashed every month till October and twice a month from November.
The three firms revise jet fuel rate every fortnight based on trends in international markets.