New Delhi. The prices of Aviation Turbine Fuel (ATF) or Jet Fuel sold to airlines have been revised and these changes will be effective from today. The ATF price in Delhi has been reduced from Rs 3,302.25 per kiloliter to Rs 77,532.79 per kiloliter or $817.37 per kiloliter in Delhi.
Aviation turbine fuel now sells for Rs 75,944.70/kL or $811.12/kL in Mumbai. According to Indian Oil Corporation (IOC) data, the price of jet fuel in Kolkata is Rs 81,642.13/KL or USD 856.56/KL, while in Chennai it costs Rs 79,763.23/KL or USD 811.54/KL.
Know which state has reduced excise duty on ATF
Union Civil Aviation Minister Jyotiraditya Scindia said the fall in prices comes after several states have cut excise duty on aviation fuel following a request from the central government as a major part of the airline’s operating cost goes to ATF. Madhya Pradesh has reduced the excise duty on ATF to 4 percent at Bhopal and Indore airports while Tripura and Haryana have reduced the tax on ATF to 1 percent. Other states to cut excise duty on ATF are Andaman and Nicobar Islands, Jammu and Kashmir, Himachal Pradesh and Uttarakhand.
ATF revenue rises to Rs 684.32 crore
Neemuch-based RTI activist Chandrashekhar Gaur told news agency PTI that the Central Excise on Aviation Turbine Fuel (ATF) revenue increased from Rs 183.22 crore to Rs 684.32 crore between April and September. Excise duty revenue on petrol and diesel increased to Rs 1,33,455.34 crore and Rs 58,012.81 crore, respectively, while excise duty revenue on crude oil touched Rs 6,377.65 crore during the period under review.
Know what is ATF?
Jet fuel (air fuel) or Aviation Turbine Fuel (ATF) is required for the operation of aircraft. It is used to power aircraft with jet and turbo-prop engines. It is a special type of petroleum based fuel. ATF is colorless and straw-like in appearance. The role of the aviation sector is important in the development of the global economy. The cheapening of ATF is a matter of great relief for the aviation industry. If the trend of reduction in ATF rates continues, then many airlines can announce a reduction in passenger fares as well. Which will also benefit the business man and aviation sector. This will increase the air traffic of passengers and cargo.
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