Jet fuel price cut by steep 12 percent

NEW DELHI: Jet fuel (ATF) prices on Monday were cut by the steepest ever 12 per cent, the second reduction in as many weeks, on softening international oil prices amid recessionary fears.

Aviation turbine fuel (ATF) prices were cut by Rs 16,232.36 per kilolitre, or 11.75 per cent, to Rs 121,915.57 per kl in the national capital, a price notification of state-run retailers showed.

This is the steepest ever reduction in rates and follows a Rs 3,084.94 per kl (2.2 per cent) reduction effected on July 16.

Parallelly, the rates of commercial LPG - the one used by hotels, restaurants and other business establishments - was cut by Rs 36 to Rs 1,976.50 per 19-kg cylinder.

This is the fourth reduction in commercial LPG rates since May. In all, prices have come down by Rs 377.50 per 19-kg cylinder.

There was no change in the price of domestic cooking gas LPG used in the household kitchens. A 14.2-kg domestic LPG cylinder costs Rs 1,053 in the national capital.

While ATF prices are revised on the 1st and 16th of every month, based on rates of benchmark international oil rates in the previous fortnight, commercial LPG rates are changed once a month.

The price of ATF - the fuel that helps aeroplanes fly - peaked to Rs 141,232.87 per kl (Rs 141.23 per litre) on June 16, after a record 16 per cent (Rs 19,757.13 per kl) increase in rates.

International oil prices have softened on fears of a recession in major economies. Brent - the world’s most known benchmark - was trading at $103.60 per barrel on Monday, down from $110 last week.

Besides the two reductions in rates on July 16 and August 1, ATF prices were cut by a marginal 1.3 per cent (Rs 1,563.97 per kl) on June 1. But for these three decreases, ATF prices have been on the rise throughout 2022.

Nearly 350 aircraft inspected in last few months: Aviation Ministry

Aviation regulator DGCA conducted two special drives of spot checks in the last few months to ensure safety of flight operations, the Centre informed the Rajya Sabha on Monday.

A special drive of spot checks was conducted from May 2 till June 6. During the period, a total of 300 aircraft were inspected which included 62 operational aircraft of Spicejet fleet.

“The spot checks raised findings which were corrected by the airlines. Another series of spot checks were carried out on all operating aircraft of Spicejet from July 9 to 13, wherein 53 spot checks were carried out on 48 aircraft which did not raise any significant finding or safety violations,” said the Ministry of civil Aviation in a written reply in the House.

However, as an abundant safety measure, DGCA ordered Spicejet to release certain identified aircraft (10) for operations only after confirming that all reported defects and malfunctions are rectified.

DGCA, further issued an interim order to Spicejet on July 27, 2022, wherein for the continued sustenance of safe and reliable air transport service, the number of departures of Spicejet have been restricted to 50 per cent of the number of departures approved under summer schedule 2022 for a period of eight weeks, said the ministry.

The ministry said that DGCA ensures timely corrective action on deficiencies noted during oversight of certified operators and maintenance of record thereof.

“There have been no lapses and hence no action is pending against officials. The Government has sensitised the scheduled airlines to give utmost importance to safety of operations and has taken various steps.

Scheduled airlines have been asked to increase their engineering related capabilities at all base stations and transit stations.

Special audits and spot checks have been ordered by DGCA and airlines have been asked to take appropriate mitigation action and greater internal surveillance to ensure safety of air operations.