Aviation turbine fuel (ATF), or jet fuel, prices were reduced by 4 percent applicable from midnight of July 31, 2016 and August 1,2016. This is the first time the jet fuel prices have fallen after rising for five straight months.
In a statement, state-run Indian Oil Corporation (IOC) said that the ATF prices for August have been decreased to Rs. 47,206 per kilolitre (kl) in New Delhi, when compared to Rs. 49,287 in July. In foreign currency, the price was fixed at $496.46/kl.
ATF prices account for nearly 30-35 percent of operating costs for airlines and directly impacts profit margins. The jet fuel prices differ in different cities.
To Read the News in Full 01/08/16 Kalyani Pandey/IBTimes
In a statement, state-run Indian Oil Corporation (IOC) said that the ATF prices for August have been decreased to Rs. 47,206 per kilolitre (kl) in New Delhi, when compared to Rs. 49,287 in July. In foreign currency, the price was fixed at $496.46/kl.
ATF prices account for nearly 30-35 percent of operating costs for airlines and directly impacts profit margins. The jet fuel prices differ in different cities.
To Read the News in Full 01/08/16 Kalyani Pandey/IBTimes
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