ATF Prices Reduced: Government oil companies have decided to reduce the prices of turbine fuel (ATF), giving a big relief to the airlines companies. Indian Oil Corporation has given this information. Oil marketing companies have cut jet fuel prices for the fourth consecutive time. The price of ATF has been reduced by Rs 1,221 per kilolitre. The new rates have come into effect from 1 February 2024.
Know the new rates of ATF in major cities-
Oil companies have cut price by Rs 1,221 per liter for domestic airlines in Delhi. After this, the price of ATF in the capital Delhi has come down to Rs 1,00,772.17 per kilolitre. After today's cut, the price of ATF in Mumbai has come down to Rs 94,246.00 per kilolitre. The price of jet fuel has come down to Rs 1,09,797.33 per liter in Kolkata and Rs 1,04,840.19 per liter in Chennai.
Will customers get the benefit of cheap air travel?
This is the fourth consecutive time that aviation turbine fuel has been cut by oil companies and the price has come down to around Rs 1,221. After this cut, it is expected that the airlines companies will get huge benefits. In such a situation, its effect can also be seen on air fares, however, it is not yet clear how much benefit the companies will provide to the customers.
ATF accounts for at least 50 percent of the operational cost of an aviation company, in such a situation, reduction in ATF can provide great relief to airline companies. Earlier on January 1 also, oil companies had cut the prices of aviation turbine fuel.
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