The price of jet fuel was reduced by 2.3% on Thursday, reflecting lower international oil prices, but petrol and diesel prices remained frozen for the eighth month in a row. According to a price notification from state-owned fuel retailers, the price of aviation turbine fuel (ATF) in the national capital has been reduced by Rs 2,775 per kilolitre, or 2.3 percent, to Rs 1,17,587.64 per kl.
The rate cut, which will benefit airlines where fuel accounts for nearly 40% of operating costs, follows a Rs 4,842.37 per kl, or 4.19 percent, reduction last month.
The price of ATF is revised on the 1st of each month based on the average rate of international benchmark and foreign exchange rates.
On the other hand, Petrol and diesel prices remained frozen for a record eighth month in a row. In the national capital, a litre of petrol costs Rs 96.72 and a litre of diesel costs Rs 89.62.
State-owned fuel retailers are supposed to update petrol and diesel prices on a daily basis based on a 15-day rolling average of benchmark international fuel prices, but they haven’t done so since April 6.
Prices were last changed on May 22, when the government reduced excise duty to relieve consumers of a rise in retail rates caused by an increase in international oil prices.
In addition, after seven decreases, the price of commercial LPG, which is also revised on the first of each month, remained unchanged on Thursday.
In the national capital, a 19-kg commercial LPG cylinder used by hotels, restaurants, and other commercial establishments continues to cost Rs 1,744.