Aviation fuel prices reduced; passengers expect lower ticket fares

NEW DELHI: Airline fuel prices, which had surged following the West Asian crisis, have been reduced in the country. The price of Aviation Turbine Fuel (ATF) has been cut by Rs 5, bringing the cost down to Rs 110 per litre. The reduction is currently applicable only to domestic flights. Airline fuel prices had witnessed a sharp increase amid the US-Iran tensions.

Amid a continued decline in global oil prices, the central government has also reduced the windfall tax on the export of diesel and Aviation Turbine Fuel. Global crude oil prices, which had earlier crossed $126 per barrel, have also fallen. The easing of tensions in West Asia and fewer disruptions to shipping through the Strait of Hormuz have contributed to the improvement in the situation.

The rise in fuel prices had resulted in a significant increase in air ticket fares. As the crisis intensified, several airlines had reduced their services, causing difficulties for passengers and expatriates. The reduction in aviation fuel prices is now being viewed as a positive development for the aviation sector. Passengers and expatriates hope that suspended services will resume and airfares will gradually return to normal, providing relief to travellers.