ATF prices cut by about 3 pct

Written by Press Trust of India | New Delhi | Updated: Feb 4 2014, 16:08pm hrs
Jet fuel or ATF prices have been cut by about 3% on softening international oil rates, the first reduction in two months.

Aviation turbine fuel, or ATF, price at Delhi was reduced by Rs 2169.13 per kilolitre, or 2.8 per cent, to Rs 74,072.20 per kl, according to Indian Oil, the nation's largest fuel retailer. The reduction follows two rounds of price hikes Rs 597.48 per kl or 0.8% increase on December 1 and Rs 2,036.59 per kl, or 2.74% hike on January 1, 2014. ATF prices had touched a life-time high of Rs 77,089.42 per kl in October last year following five consecutive increases since June as the rupee depreciated against the US dollar, making oil imports costlier.