Air travel to become cheaper! Jet fuel prices cut by THIS much

The price of Aviation Turbine Fuel (ATF) was on Thursday cut by the oil marketing companies after the Central government raised the windfall profit tax on jet fuel exports. The rates were cut marginally by 0.7 per cent, according to a PTI report.

Jet fuel price was cut by Rs 874.13 per kilolitre, or 0.7 per cent, to Rs 121,041.44 per kl in the national capital for domestic airlines. Jet fuel prices in other metro cities: Mumbai - Rs 120,001.74, Kolkata - Rs 127,523.33; Chennai - 125,599.88 per kilolitre.

ATF prices in Metros for domestic airlines on international run: Delhi - $1,154.08; Kolkata - $1,193.39; Mumbai - $1,151.48 and Chennai - 1,149.50.

Rates differ from state to state depending on incidence of local taxes.

Meanwhile, the government has hiked the windfall profit tax on the export of diesel to Rs 13.5 per litre and that on jet fuel exports to Rs 9 per litre. The levy on domestically-produced crude oil too has been increased by Rs 300 per tonne to Rs 13,300. The revision comes into effect from September 1.

In another related development, the price of commercial LPG used in hotels and restaurants was on Thursday slashed by Rs 91.5 per cylinder on softening international prices. Oil companies, however, made no changes in rates of domestic cooking gas.