ATF prices slashed by Rs 1,221/kl in Delhi ahead of Budget 2024; check latest rates here

Ahead of the Budget 2024 speech by Union Finance Minister Nirmala Sitharaman, state-backed oil marketing companies (OMCs) like Indian Oil Corporation (IOC)  on Thursday have slashed the prices of aviation turbine fuel (ATF) for domestic airlines in Delhi. ATF or jet fuel prices have been slashed by Rs 1,221/kl in Delhi on February 1. 

After the latest revision, aviation turbine fuel for domestic airlines costs Rs 1,00,772.17 per kl in Delhi; Rs 1,09,797.33 per kl in Kolkata; Rs 94,2476 per kl in Mumbai and Rs 1,04,840.19 per kl in Chennai. Aviation turbine fuel for domestic airlines on international run costs $912.76 per kl in Delhi; $950.88 per kl in Kolkata; $910.84 per kl in Mumbai; and $907.88 per kl in Chennai. 

This, however, was not the first time that jet fuel or ATF prices were slashed. In January this year, jet fuel prices were cut by 4 per cent. According to a notification by the state-owned fuel retailers, aviation turbine fuel (ATF) price was slashed by Rs 4,162.50 in the national capital to Rs 1,01,993.17 per kl.

Alongside, price of commercial LPG used by establishments such as hotels and restaurants, was increased to Rs 1,796.50 per 19-kg cylinder from Rs 1,775.50. 

Before this, ATF price was cut by around 6 per cent or Rs 6,854.25 per kl in November and by 4.6 per cent or Rs 5,189.25 per kl in December. The reduction in the price of jet fuel, which makes up for 40 per cent of an airline's operating cost, will ease the burden on already strained airlines. 

State-backed oil marketing companies revise cooking gas and ATF prices on the first of every month by factoring in the average international price in the previous month. 

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