Indian Oil to cut jet fuel prices amid weaker crude
12/31/2011 12:00:00 AM
Indian Oil Corp. on Saturday said it will trim jet fuel prices by 1.0% for the fortnight beginning Jan. 1 due to a softening in international benchmark rates.
India's biggest fuel retailer by market share will lower jet fuel prices to INR 63,076.67/kiloliter from INR 63,739.10/kiloliter in New Delhi, its website showed.
Jet fuel prices vary across India due to local taxes.
Indian Oil and other state-run fuel retailers revise jet fuel prices every fortnight in line with international crude oil prices.
Dow Jones Newswires
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