Mumbai: Public sector oil marketing companies reduced the price of Aviation turbine fuel (ATF) of jet fuel. The price was slashed by 11.75% or 16,232.36 per kilolitre. Now the ATF costs Rs 121,915.57 per kilolitre.
This is the second reduction in ATF price this year and also the most steepest reduction. ATF prices are revised on the 1st and 16th of every month. The price is revised based on rates of benchmark international oil rates in the previous fortnight.
Earlier in July 16, the oil companies reduced the price by Rs3,084.94 per kilolitre or 2.2%. Jet fuel price make up almost 40% of the operating cost of an airline.