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Aircraft fuel (ATF) prices, which reached a record high, were cut by 2.2 per cent on Saturday. This reduction has been made due to the fall in international oil prices.
According to public sector petroleum companies, ATF prices have been cut by Rs 3,084.94 per kiloliter or 2.2 per cent. Now its price has gone up to Rs 1,38,147.93 per kiloliter. There has been no change in the prices of petrol and diesel.
ATF prices have been cut for the second time this year. ATF prices were increased by 16 per cent in June amid a rise in crude oil prices in the international market. Due to this, the prices of ATF had reached a record level across the country.
Its prices had reached a peak of Rs 1,41,232.87 per kiloliter (Rs 141.23 per liter) last month. The ATF prices are revised on the 1st and 16th of every month based on the international oil prices for the previous fortnight.
Earlier on July 1, there was no change in the price. ATF expenditure accounts for 40 per cent of aircraft operations. This affects the air ticket prices.