Fuel Price Drop: Relief for Airlines and Restaurants
Aviation turbine fuel (ATF) prices were decreased by 1.4% across various cities, while commercial LPG cylinders saw a reduction of Rs 51.50. This adjustment comes after consecutive price hikes due to global market fluctuations. These changes offer cost relief to airlines and the hospitality industry, despite unchanged domestic LPG rates.
- Country:
- India
Aviation turbine fuel (ATF) prices witnessed a 1.4% reduction this Monday in key Indian cities, marking a significant price cut after two successive monthly increases driven by global market fluctuations. The price cut aims to alleviate rising costs for airlines, with fuel accounting for a substantial portion of their operating expenses.
The drop in ATF and LPG prices reflects a decline in international benchmark rates, offering considerable relief to commercial airlines and the restaurant sector, which heavily depend on these resources. While ATF prices in the national capital descended to Rs 90,713.52 per kl, LPG prices also dropped, albeit domestic LPG prices remained stable.
Despite the positive impact on commercial operations, domestic petrol and diesel prices remain frozen since pre-election cuts in March of the previous year. Fuel industry giants like IOC, BPCL, and HPCL continue to adjust ATF and LPG prices monthly based on global oil price trends and currency exchange rates.
(With inputs from agencies.)
Google News