Following the latest rates cut in the Jet fuel, stocks of aviation companies rose by about 1% Tuesday
New Delhi: Jet fuel price Tuesday was cut by a record 14.7 per cent on the back of decline in international rates, making it cheaper than both petrol and diesel.
The price of Aviation Turbine Fuel (ATF) — used to power airplanes — was slashed by Rs 9,990 per kilolitre, or 14.7 per cent, to Rs 58,060.97 per kl, according to price notification issued by state-owned oil firms.
This is the second straight monthly reduction in rates and the biggest single cut ever. Prices were slashed by Rs 8,327.83 per kl, or 10.9 per cent, on December 1, according to PTI.
The new ATF rates are now cheaper than both petrol and diesel in most parts of the country and it is less expensive than even non-PDS kerosene in cities like Mumbai.
A litre of petrol, used in motorcycles and cars, costs Rs 68.65 in Delhi as compared to Rs 58,060.97 per kl or Rs 58.06 per litre price for ATF. A litre of diesel, which is mostly used as fuel in trucks and buses, comes for Rs 62.66.
ATF costs just a shade higher than the price charged for kerosene sold through non-PDS (public distribution system) outlets in Delhi. Non-PDS in Delhi is priced at Rs 56.59 per litre.
Meanwhile, following the latest rates cut in the Jet fuel, stocks of aviation companies rose by about 1% Tuesday. Jet Airways shares jumped by around 2.4 percent, quoting at Rs 284.40 on the BSE. Indigo-operator Interglobe Aviation and SpiceJet rose about 1 percent following the rate cut.
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