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ATF prices cut by 4%

January 31, 2009 17:09 IST

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

Jet fuel or ATF prices in Delhi were slashed to Rs 30,288 per kilolitre, effective Saturday midnight, an official of Indian Oil Corporation [Get Quote], 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 kilolitre to Rs 31,176 per kilolitre.

ATF prices had peaked to Rs 71,028.26 per kilolitre (in Delhi) in August on international crude prices touching historic high of $147 a barrel.

But they have since been slashed every month till October and twice in November. State-run Indian Oil Corporation, 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.

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