Aviation turbine fuel price cut by 1%

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New Delhi: Jet fuel price on Friday was cut by 1 per cent, the second reduction in rates this month following softening international crude oil prices.

Aviation turbine fuel (ATF) price was reduced by Rs 568.88 per kilolitre, or 0.9%, to Rs 57,805.28 per kl in the national capital, according to a price notification of state-owned fuel retailers.

This is the second reduction in rates this month. Earlier, prices were cut by 3 per cent on April 1. These price cuts were the first in six months.

Meanwhile, petrol and diesel prices remained unchanged after the fourth reduction in three weeks on Thursday. Petrol price on Thursday was cut by 16 paise per litre and diesel by 14 paise. Petrol now costs Rs 90.40 per litre in Delhi, while a litre of diesel comes for Rs 80.73.

In four reductions since March 24, petrol price has been cut by 67 paise and diesel by 74 paise. While petrol and diesel prices are revised on a daily basis, ATF and LPG rates are revised on the 1st and 16th of every month.

Despite bouts of rate freeze, prices had gone up by a record Rs 21.58 per litre on petrol since the government raised excise duty in March last year. Diesel prices had increased by Rs 19.18 a litre.

Central and state taxes make up for 60 per cent of the retail selling price of petrol and over 54% of diesel. The union government levies Rs 32.90 per litre of excise duty on petrol and Rs 31.80 on diesel.