In a relief to airlines struggling with operational costs, state-run oil marketers on Sunday cut prices of aviation turbine fuel (ATF), or jet fuel, by a steep 11.3 per cent.
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The price of ATF in Delhi was cut by Rs.5, 909.9 per kilolitre or 11.27 per cent to Rs.46,513.02 per kl effective from Februray 1, the Indian Oil Corp announced.
Jet fuel was last cut on January 1 by Rs.7,520.52 per kl or 12.5 per cent.
While petrol and diesel prices have not been changed in this fortnightly revision, non-subsidised domestic cooking gas (LPG) was cut by Rs.103.5 a cylinder to Rs.605 per 14.5 kg cylinder. The price of non-subsidised LPG was last cut January 1 by Rs.43.50.
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The non-subsidised or market-priced LPG is that which customers buy after exhausting their quota of 12 subsidised cylinders.
International oil prices have plunged to over five-and-half-year lows and crude is selling at around $45 a barrel.