ATF prices cut by 4 per cent

After a one-off increase last fortnight, aviation turbine fuel (ATF) prices were on Saturday, cut by about 4 per cent to bring them around April 2005 levels.

Jet fuel or ATF prices in Delhi were slashed to Rs 30,288 per kilolitre, effective midnight on Friday, an official of Indian Oil Corp, the nation's largest fuel retailer, said.

But for the 3.3 per cent increase in rates on January 16, jet fuel prices have been reduced for the ninth time on Saturday since September 1, 2008 when international crude oil prices started to decline.

In Mumbai, home to the nation's busiest airport, ATF rates were down by Rs 1,301 per kl to Rs 31,176 per kl.

ATF prices had peaked to Rs 71,028.26 per kl (in Delhi) in August on international crude prices touching historic high of USD 147 a barrel. But they have since been slashed every month till October and twice in November.

State-run Indian Oil Corp, Hindustan Petroleum and Bharat Petroleum revise ATF rates on the 1st and 16th of every month based on the average international jet fuel rates in the preceding fortnight.