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Aviation Turbine Fuel Price Cut By 23 Per Cent; Now Costs One-Third Of Petrol, Diesel Rates
Air India aircraft parked on the tarmac of the international airport in Mumbai. (Sattish Bate/Hindustan Times via GettyImages)
In a major boost for the Indian aviation industry which has been battered by the disruption introduced by COVID-19 pandemic globally, the aviation turbine fuel (ATF) charges in India have been cut by a steep 23 per cent, reports Economic Times.
The steep fall in ATF prices brings down its price to a third of the price of petrol and diesel whose prices ave remained frozen for a continuous period of 50 days as of Sunday (3 May). The price cut also is in line with the slump in the international oil prices.
Until March, the ATF prices used to be revised on the first of every month. However, on 21 March, the oil companies adopted the practice to revise the practice fortnightly in a bid to pass on the benefit of falling international oil prices to the airlines.
