Monday, July 9, 2012

Jet fuel prices reach October 2011 low

The price of aviation turbine fuel (ATF), or jet fuel, in India fell on 30 June.

In Delhi, the commodity went from Rs.1,241 (€17.80) per kilolitre to Rs.61,169/kl – a drop of around 2% – which went into effect on 1 July.

The reduction is the sixth consecutive cut in rates since April when prices reached a record high of just over Rs.67,800. Prices are now level with those seen in October 2011.

The cost of jet fuel in the region reached an all-time high in August 2008 when it was priced at Rs.71,028.26/kl at a time when international oil rates hit $147 per barrel.

In Mumbai, the price slash saw fuel go from Rs.63,178/kl to Rs.61,934/kl on 3 July.

The revision will come as a relief to many cash-strapped Indian airlines that continue to shell out over 40% of their total operational costs on ATF.

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