Diabytes
Aviation turbine fuel News
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The GST Council also discussed the imposition of GST on quick commerce services, e-commerce, and food delivery platforms, but no decision was reached.
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The government has reduced the windfall tax on domestically-produced crude oil to Rs 5,700 per tonne from Rs 5,700 which is effective from June 1, 2024.
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IndiGo, a major Indian airline, halts fuel charge collection on tickets after a surge in jet fuel prices, effective three months post introduction.
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Aviation turbine fuel was raised by Rs 2,258.54 per kilolitre, or 2%, to Rs 1,12,924.83 per kilolitre in the national capital.
The hike in fuel costs is due to disruptions in supply chains and the resulting increase in global oil prices as a result of the crisis in Ukraine.
On Thursday, crude oil prices tumbled 7% to slightly above $100 a barrel.
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On May 3, aviation turbine fuel price was cut by Rs 6,812.62 per kilolitre, or 23.2 per cent, to Rs 22,544.75 per kl in the national capital, according to a price notification by state-owned oil marketing companies.
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Jet fuel price Tuesday was cut by a record 14.7 percent on the back of decline in international rates, making it cheaper than both petrol and diesel.
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This comes as a relief to the aviation industry that has been hit hard by high fuel prices.
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ATF constitutes approximately 35-40 percent of operational cost of an airline in India.
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IndiGo is the first local carrier to announce passing on the burden of spiralling jet fuel prices to the passengers.
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Since the jet fuel accounts for 45 percent of an airline's cost of operation, the carriers could think of hiking the prices by up to 15 percent, the experts feel.
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An indication to this effect was given by a senior official of an airline here following a meeting with Minister of State for Civil Aviation Jayant Sinha.
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In the last review OMCs had not changed the price of both ATF and non-Subsidised LPG.
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The oil ministry has taken up with the finance ministry for early inclusion of all the five exempted products in GST.
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BP will soon start local sales of aviation turbine fuel.
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In the five increases, ATF rates have gone up by 25 percent, or Rs 9,985.87, per kilolitre since March.
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With the Government affecting a steep over nine percent hike in aviation turbine fuel (ATF), airlines may increase the price of tickets.
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Aviation Turbine Fuel (ATF), or jet fuel, price was on Friday hiked by 8.7 percent but that of non-subsidised cooking gas LPG was cut by Rs 4 per cylinder on global trends.
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After nearly two years of wrangling, BP plc has won an 'in-principle' approval to retail aviation turbine fuel (ATF) to airlines in India.
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The oil firms raised prices of non-subsidised LPG, which consumers buy after exhausting their quota of subsidised cooking fuel, by Rs 49.5 per 14.2-kg bottle.
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Jet fuel or ATF price was cut on Tuesday by a marginal 1.2 percent, the third reduction in as many months, while rate of non-subsidised cooking gas (LPG) was hiked by Rs 61.50 a cylinder due to global cues.
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