New Delhi: Providing a huge relief to the struggling domestic aviation industry, state-owned oil companies cut aviation turbine fuel (ATF) prices a day after the government hiked petrol prices across the country by Rs5 a litre. The cut comes after a gap of seven months.
The new rates come into effect from midnight Sunday, 15 May.
It's not clear how much of the relief would be passed onto passengers.
The reduction in ATF price comes after 14 successive hikes since October last year.
In Delhi, jet fuel price came down 2.9 per cent, to Rs58,794 per kilolitre, an official of Indian Oil Corporation said.
In Mumbai, ATF price comes down by Rs1,827 to Rs59,602 per kilolitre.