Saturday, 31 December 2011

Oil companies cut jet fuel price by Rs 622 per kl

Are the State owned Oil Companies cutting the price of ATF, commonly called as Jet fuel so as to give a relief to the already burdened Airline sector and increasing the price of Petrol for two and four wheelers so as to get a no profit no loss situation ?

In a recent report it has been revealed that the State owned Oil Companies including IOC and other fuel retailers, Hindustan Petroleum and Bharat Petroleum had on December 16 reduced ATF price by 1.3 per cent to Rs 63,739.10 per kl on account of softening in the commodity's international rates, if that is the case then why is there a proposal given by the same State owned Oil Companies to increase the price of petrol for the common masses.

Jet fuel in Mumbai will cost Rs 64,054 per kl from tomorrow as against current rate of Rs 64730.23 per kl, a decrease of over Rs 676 per kl. The reductions this month comes on back of a steep 3.7 per cent hike in rates effected from December 1. Prior to that, ATF rates had been increased by Rs 1,195 per kl from November 16 and by 3.8 per cent or Rs 2,845 per kl from November 1.

The official said the reduction was possible because fall in international jet fuel prices has offset weakening of the rupee against the US dollar.


Post a Comment

Twitter Delicious Facebook Digg Stumbleupon Favorites More