Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
Related Articles
It is now cheaper than petrol, diesel
Aviation turbine fuel (ATF) prices have been cut for the second month in a row by a record 14.7% for the month of January 2019, according to a notification issued by Indian Oil Corporation and other State-owned oil marketing companies.
Jet fuel will now cost Rs. 58,060.97 per kilolitre in Delhi, the benchmark market for the country, effective January 1. This represents a Rs. 9,990 per kilolitre price cut from the Rs. 68,050.97 per kilolitre in December 2018. Jet fuel prices had been revised on a monthly basis since March 2018. This is the second consecutive reduction in rates and the biggest single cut ever, the data showed. In December, prices were cut by Rs. 8,327.83 per kilolitre, or 10.9%.
With the two successive cuts, jet fuel rates are now lower than petrol and diesel prices on a per litre basis.
While ATF now costs Rs. 58.06 per litre, petrol costs Rs. 68.65 per litre and diesel Rs. 62.66 per litre in Delhi. The two consecutive price reductions have brought ATF rates to their lowest levels in a year and will provide much-needed relief to cash-strapped airlines.
