Jet fuel price cut by 1%

After two consecutive hikes, the state-run oil firms on Monday cut jet fuel by little over one per cent in step with marginal easing of crude rates.

Following this, aviation turbine fuel prices in Delhi will come down by Rs 455/KL to Rs 39,968/LK effective Monday midnight, an official of Indian Oil, said. In Mumbai, it will be down by Rs 474 to Rs 41,237/KL IOC, and other oil PSUs like Bharat Petroleum and Hindustan Petroleum had on November 1 and 16 raised jet fuel rates by 2.4 per cent ad.

After the two hikes, the ATF prices had risen to above September levels, the official said. The three oil firms revise jet fuel prices on the first and the 16th day of every month based on the average global oil price in the previous fortnight.

The ATF price in Kolkata has been cut by Rs 460/KL to Rs 48,221 and that in Chennai by Rs 489 to Rs 44,038/KL, IOC official said.