ATF price cut: State-owned oil companies decided to reduce the prices of turbine fuel (ATF), giving a big relief to airlines. Indian Oil Corporation reported this. Oil marketing companies have cut jet fuel prices for the fourth time in a row. The price of ATF has been reduced by Rs 1221 per kilolitre. The new rates are effective from February 1, 2024.
Know the latest ATF rates in major cities.
Oil companies have cut the price of domestic airlines in Delhi by Rs 1,221 per litre. After that, the price of ATF in the capital Delhi has come down to Rs 1,00,772.17 per kilolitre. After today’s cut, ATF price in Mumbai has come down to Rs 94,246.00 per kilolitre. The price of jet fuel has come down to Rs 1,09,797.33 per liter in Kolkata and Rs 1,04,840.19 per liter in Chennai.
Will consumers benefit from cheap air travel?
This is the fourth time in a row that oil companies have cut the price of aviation turbine fuel to around Rs 1,221. After this cut, it is expected that the airlines companies will get a lot of benefit. In this case, the impact can also be seen on air fares, but it is not yet clear how much the companies will pass on to the customers.
ATF accounts for at least 50% of the operational cost of an aviation company, in such a situation, reduction in ATF can provide great relief to airline companies. Earlier on January 1 as well, oil companies had reduced the prices of aviation turbine fuel.
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