New Delhi, July 1: Government oil marketing companies (OMCs) have reduced the price of Aviation Turbine Fuel (ATF) by ₹5 per litre starting Wednesday. This decrease is attributed to a drop in international crude oil prices due to easing tensions in West Asia.
According to the latest notification, the price of ATF in Delhi has now fallen to approximately ₹110 per litre, effective from July 1.
The recent price cut is expected to lower the operating costs for domestic airlines; however, the actual benefit will depend on how each airline procures fuel and their hedging strategies.
Peace talks regarding the conflict between the USA and Iran have led to reduced tensions in the Middle East, resulting in a significant drop in crude oil prices. Brent crude futures have decreased to $73.21 per barrel, while WTI crude futures have fallen below $70 per barrel, now at $69.73 per barrel.
Additionally, the central government has amended the windfall tax on petroleum product exports. The tax on petrol exports has been increased, while the tax on diesel and ATF exports has been reduced.
The special additional excise duty (SAED) on petrol exports has risen to ₹4 per litre from ₹1.5 per litre. During the same period, the duty on diesel exports has been cut to ₹8.5 per litre from ₹14 per litre, and the duty on ATF exports has been reduced to ₹7.5 per litre from ₹12.5 per litre. However, there have been no changes to the excise duties on petrol and diesel supplied domestically.
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Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
