New Year brings 10 percent drop in jet fuel prices

New Delhi, Jan.2 (ANI): The New Year has started off on a good note as far as the aviation sector is concerned.

The government, through the MInistry of Civil Aviation, has announced a ten percent drop in jet fuel prices, giving various domestic-plying airlines a sufficient economic boost.

The drop in rupee terms is an estimated Rs.4500/- per kilolitre of jet fuel.

In national capital New Delhi, jet fuel costs have come down by Rs.4428/- per kilolitre. This means that jet fuel will now be available for Rs.39892.32/- per kilolitre. In Chennai, jet fuel has become Rs.4598.56/- per kilolitre cheaper.

According to Jitendra Bhargav, former director in Air India, and othger experts, the cut in jet fuel prices will give a major boost to productivity and performance in the domestic aviation sector.

These experts also say that the drop in jet fuel prices will help to increase commission-related earnings of the airlines, as also attract more passengers.