State-run oil marketing companies have slashed the prices of aviation turbine fuel (ATF), commonly known as jet fuel, by ₹1,074 per kilolitre, effective from November 1, 2023. This reduction brings the cost of jet fuel down to ₹1.11 lk/kL in New Delhi, providing a sigh of relief for domestic airlines.
The revised prices for ATF in other major cities are as follows: ₹1.04 lk/kL in Mumbai, ₹1,19 lk/kL in Kolkata, and ₹1.15 lk/kL in Chennai. For domestic
carriers operating on international routes, the prices stand at $1,026.96 per kilolitre in New Delhi, $1,025.49 per kilolitre in Mumbai, $1,065.6 per kilolitre in Kolkata, and $1,022.71 per kilolitre in Chennai.
This price cut comes after a series of increases in ATF rates over the past three months. Despite the reduction in fuel costs, industry analysts have noted that this may not translate into lower airfares due to the robust demand in the aviation sector.
The move is expected to provide some relief to airlines, which have been grappling with rising operational costs. As the industry navigates challenges, this reduction in jet fuel prices could positively impact the overall operational expenses for airlines, offering a glimmer of hope amid ongoing economic uncertainties.
Also Watch: Festive season airfares set to soar as oil marketing companies hike jet fuel prices