Jet fuel (ATF) prices were today cut by a steep 5.5 per cent, reversing the rising trend of past two months. Aviation Turbine Fuel, or ATF, price at T3 terminal in Delhi was cut by about Rs 3,885 per kilolitre (kl), or 5.5 per cent, to Rs 66,196 per kl from today, according to Indian Oil Corp, the nation's largest fuel retailer.
The three fuel retailers - IOC, Hindustan Petroleum and Bharat Petroleum revise jet fuel prices on the 1st of every month, based on the average international price in the preceding month.
The reduction comes on back of a 2 per cent (Rs 1,324.84 per kl) increase in price from February 1 and a 3.8 per cent (Rs 2,519.83 per kl) hike in rates from March 1. In Mumbai, jet fuel will cost Rs 68,332 per kl as against Rs 72,451.79 per kl previously.
At 12:56 hrs Jet Airways was quoting at Rs 541.50, up Rs 24.80, or 4.80%.
It has touched an intraday high of Rs 553.90 and an intraday low of Rs 518.55.
It was trading with volumes of 527,013 shares, compared to its five day average of 605,150 shares, a decrease of -12.91%.
In the previous trading session, the share closed down 1.95% or Rs 10.25 at Rs 516.70. The share touched its 52-week high Rs 688.30 and 52-week low Rs 293.15 on 28 January, 2013 and 16 May, 2012, respectively.
(With inputs from PTI)
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