New Delhi: Public sector oil marketing companies (OMCs) in the country, Indian Oil Corporation (IOC), Bharat Petroleum Corporation, and Hindustan Petroleum Corporation revised the prices for jet fuel (ATF). The oil companies reduced ATF price by a steep 6.5 per cent.
Aviation turbine fuel (ATF) price was cut by Rs 6,673.87 per kilolitre, or 6.5 per cent, to Rs94,969.01 per kl in the national capital. The reduction follows a marginal 0.7 per cent ( Rs 749.25 per kl) increase on May 1.
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The ATF rate in Mumbai was slashed to Rs 88,834.27 per kl from Rs 95,173.70. Prices differ from state to state depending on the incidence of local taxes.
State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) revise prices of ATF and cooking gas on 1st of every month based on the average price of benchmark international fuel and foreign exchange rate.
Prices of petrol and diesel continue to remain frozen. Rates had been cut by Rs 2 per litre in mid-March.
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