Oil companies hike jet fuel prices by over 4 per cent
15 Feb 2011
State-run oil marketing companies today announced another 4.12 per cent increase in the prices of aviation turbine fuel (ATF) or jet fuel on the back of a 4.5 per cent increase in prices announced on 1 February.
This is the ninth straight increase in jet fuel rates since October 2010.
ATF prices in Delhi would go up by Rs2,104 a kilolitre to Rs53,538 per kl effective midnight tonight, an official of Indian Oil Corp said.
"The hike has been necessitated because of spurt in international oil rates," the official said.
The ATF price in Delhi as of 1 October was Rs40,728.52 per kl. The rates have gone up by Rs12,334.48 per kilolitre or 30.28 per cent since then as global prices of crude oil soared.
In Mumbai, the ATF will cost Rs53,538 per kl from tomorrow, as against Rs51,332.82 per kilolitre currently.
Fuel cost, which accounts for 40 per cent of airlines' operating cost, is sure to push up the already high airfares in the country.
State-run oil marketing companies in India revise jet fuel prices on the 1st and 16th of every month, based on the average international price in the preceding
