New Delhi: Oil marketing companies have once again cut the price of Aviation Turbine Fuel (ATF) by Rs 2,414.25 per kiloliter, starting today, June 1. This follows a big reduction last month, making air travel more affordable as fuel costs for airlines go down.
This new price cut is likely to bring some relief to airlines, which depend heavily on ATF for their flights. With the holiday season coming up, it could mean cheaper airfares for travelers.
Earlier in May, oil companies had already cut the price of a 19-kg LPG cylinder by Rs 14.50. At the same time, Aviation Turbine Fuel (ATF) prices were lowered by 4.4 per cent, offering some much-needed relief to an industry dealing with fluctuating fuel costs.
ATF prices were cut by about Rs 3,954.38 per kilolitre, bringing the rate down to Rs 85,486.80. This big drop gave airlines like Air India and IndiGo some much-needed relief, since fuel makes up nearly 30 per cent of their overall costs.
This latest price cut follows another big drop on April 1, when ATF prices fell by 6.15 per cent, or Rs 5,870.54 per kilolitre. Together, these reductions help balance out the earlier fuel price spikes from this year.
