This is the seventh straight reduction since September as price surged to an all time high of Rs 71,028.26 a kilolitre (in Delhi) in August.
ATF in Delhi has been cut by Rs 4,208.37 to Rs 32,691.28 a kilolitre effective midnight tonight, said an official of Indian Oil Corporation (IOC). In Mumbai, the home to nation`s busiest airport, ATF will cost Rs 33,719.46 a kilolitre from tomorrow against Rs 38,103.19 a kilolitre at present.
From its all time high in August 2008, fuel prices have now reduced by 54 per cent.
Surely the airlines should also reduce their fuel surcharges by the same 54 per cent, i.e. from a high of Rs. 3,350 to Rs. 1,541.