The price of Jet fuel has been cut by 11.3% and it will now cost less than diesel. Oil companies have announced that the price of aviation turbine fuel (ATF), or jet fuel, in Delhi was cut by around Rs 5,910 a kilolitre to Rs 46,513 a kilolitre on the back of fall in international crude oil prices. The cut is the seventh reduction in jet fuel rates since August.

Last month, its rate had fallen below the price at which petrol is sold. And after yesterday's cut, it costs Rs 46 and  51 paise a litre, even cheaper than diesel. Jet fuel constitutes over 40% of an airline's operating costs and the price cut will ease the financial burden of cash-strapped carriers. Petrol and diesel prices have, so far, not been changed as per the fortnightly revision.

However, non-subsidised domestic cooking gas (LPG) was cut by Rs 103.5  per cylinder to Rs 605 a cylinder after international oil prices slumped to near six-year lows.