Air travel likely to get cheaper as jet fuel rates cut by whopping 12%

The prices of air turbine fuel (ATF) have been slashed by a whopping 12 per cent. Accordingly, aviation fuel will now cost Rs 1.21 lakh per kilolitre in Delhi from today, as per a notification from the Indian Oil Corporation (IOCL).

The reduction in jet fuel prices is in the line with the fall in international oil prices.

After today's price cut, ATF in Mumbai will now cost Rs 1,20,875.86 per kl. In Kolkata, the fuel will be available at Rs 1,28,425.21 per kl and Rs 126,516.29 in Chennai. 

This is the third time when ATF prices have been reduced this year. Earlier on July 16, ATF prices were cut by 2.2 percent to Rs 138,147.93 per kl following softening in international oil prices. In June as well, jet fuel prices were slashed by 1.3 percent -this was the first reduction after 10 rounds of hikes.

ATF prices are revised twice on monthly basis on 1st and 16th based on rates of benchmark international oil rates.

In another related development, oil marketing companies have cut the commercial LPG cylinder or 19-kg cylinder price by Rs 36 per tank. There has been no change in the price of domestic LPG cylinders.