Aviation turbine fuel (ATF) has become cheaper than petrol and diesel, as its prices were slashed by 2.6 per cent on Thursday following the government move to reduce excise duty on the fuel.
ATF prices in Delhi: ATF or jet fuel in Delhi was cut by Rs 1,962 per kl, or 2.6 per cent, to Rs 72,605 per kl (Rs 72.6 per litre), according to a price notification issued by state-owned oil firms.
ATF prices in Mumbai: ATF costs Rs 72,225 per kl in Mumbai, down from Rs 74,177.
Even at the latest reduced price, ATF is at its highest level since March 2014.
On Wednesday, the government cut excise duty on jet fuel to 11 per cent from previous 14 per cent to give relief to the aviation industry.
The aviation industry has been hit hard by soaring petrol and diesel prices in metros and plunging rupee value against dollar.
Jet fuel prices hit their highest level in October since January 2014. The prices had risen by 9.5 per cent since July, and over 58.6 per cent since July 2017. Now, the fuel used in airplane is cheaper than even diesel.
Petrol in Delhi today is priced Rs 82.36 per cent and diesel at Rs 74.62 per litre while Petrol in Mumbai costs Rs 87.82 per litre and diesel is priced at Rs 78.22.