State-run oil companies have announced a slash of 3.7 per cent in prices of Aviation Turbine Fuel (ATF), the tenth reduction since September which comes into effect from last midnight.
ATF prices in Delhi were slashed to Rs 29,158 per kilolitre from Rs 30,288 per kilolitre. After this Rs 1,130 a kilolitre reduction, jet fuel is priced at early 2005 levels.
In country's financial capital Mumbai, ATF rates came down by Rs 1,191 per kl to Rs 29,985 per kl on Sunday.
ATF prices had peaked to Rs 71,028.26 per kl in Delhi in August 2008 on account of global crude oil prices touching historic high of 147 dollars a barrel. But they have since been slashed every month till October and twice in November.
State-run Indian Oil Corporation, Hindustan Petroleum and Bharat Petroleum revise ATF rates on the 1st and 16th of every month based on the average international jet fuel rates in the preceding fortnight
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