Aviation Turbine Fuel Prices Were Reduced By 2.2 Percent

Aviation Turbine Fuel prices were reduced by 2.2 percent. ATF price fell by 2.2 percent, know how much jet fuel became cheaper.

International crude oil prices have fallen. Jet fuel (Aviation Turbine Fuel) prices were reduced by 2.2 percent on Saturday.

Aviation Turbine Fuel (ATF) prices have been cut by Rs 3,084.94 per kiloliter or 2.2 percent. Now its price has gone up to Rs 138,147.93 per kiloliter. This is the second cut in ATF rates this year.

The ATF prices are revised on the 1st and 16th of every month based on the rates of the benchmark international oil rates.

There was no change in rates on July 1 last fortnight. Last month, the prices had touched Rs 141,232.87 per kiloliter (Rs 141.23 per liter).

Earlier, prices were hiked by 16 percent, the fastest ever, to take rates to an all-time high.

International oil prices have softened since fears of a slowdown in major economies. Oil prices are at pre-Ukraine-Russia war levels.

As you all know that ATF fuel helps the airplane to fly. On June 16, its price was increased by Rs 19,757.13 per kiloliter.

This was followed by a marginal 1.3 percent (Rs 1,563.97 per kiloliter) rate cut on June 1. But ATF prices have increased during 2022 to make up for the unilateral reduction on June 1.

The overall rates have been hiked 11 times since the beginning of the year. This has almost doubled the rates in six months.

Before the cut on Saturday, prices had increased by 91 percent (Rs 67,210.46 per kiloliter) from January 1.

Jet fuel accounts for about 40 percent of an airline’s operational cost. The cost of flights had increased in the past as a result of the increase in prices.

However, now there is some relief. Meanwhile, petrol and diesel prices remained unchanged at Rs 96.72 per liter and Rs 89.62 per liter respectively.

The cut in excise duty by the government had helped reduce the price of petrol by Rs 8.69 per liter and diesel by Rs 7.05 per liter on May 22.

But the base price for the same has remained unchanged from April 6.

Earlier, the prices had increased by a record Rs 10 per liter. The retail prices of petrol, diesel, and domestic LPG are well below the cost.

Explain that the rates of petrol and diesel are revised daily on the basis of the same rates in the international market.