Aviation Turbine Fuel (ATF) prices were reduced by 2.2 per cent Saturday, reflecting a fall in international oil prices. Oil marketing companies, or OMCs, cut ATF, or fuel used in aircraft and helicopters, prices by ₹3,084.94 per kilolitre to ₹1,38,147.93 per kl – per a notification by state-run retailers.
This is only the second time this year that rates have been reduced; prices peaked last month at ₹1,41,232.87 per kl. ATF prices are normally revised on the 1st and 16th of every month, based on benchmark international oil prices from the previous fortnight.
There was no change in July 1 rates. Before that, prices were hiked by a massive 16 per cent, news agency PTI reported.
On June 16, ATF prices increased by ₹19,757.13 per kl. On June 1, there was a marginal – 1.3 per cent cut in rates. That was the only exception in 2022, which has seen prices rise steadily.
Overall, ATF rates have been hiked 11 times since the start of this year, and had shot up by an eye-watering 91 per cent, or ₹67,210.46 per kl, since January.On average, jet fuel makes up nearly 40 per cent of a commercial airline’s operating cost, meaning any significant increase will almost certainly increase fares.
Meanwhile, petrol and diesel prices remain unchanged – at ₹96.72 per litre and ₹89.62 a litre, respectively. Excise duty cut helped reduce petrol prices by ₹8.69 a litre and diesel by ₹7.05 per litre on May 22.
