PSU oil companies raise ATF prices by 3.4 per cent
15 Jan 2009
Public sector oil marketing companies have announced a 3.4 per cent hike in the prices of aviation turbine fuel, following a rise in international prices of jet fuel.
Indian oil marketing companies have reduced the prices of jet fuel in eight successive announcements over the past three months.
ATF price in Delhi will go up by Rs1,039.1 to Rs31,496.31 per kilo litre from midnight tonight, an Indian Oil Corporation release said.
In Mumbai, the home for nation's busiest airport, ATF price will rise by Rs1,068.87 to Rs32,447.65 per kl.
The new prices in metros applicable from 16 January will be: Delhi Rs31,496.31, Kolkata Rs39,511.15, Mumbai Rs32,447.65 and Chennai Rs35,096.32.
For international airlines, the new prices applicable from 1 January 2009 are: Delhi $510.78, Kolkata $552.00, Mumbai $504.87 and Chennai $506.12.
The ATF rates had soared to an all time high of Rs71,028.26 per kl (in Delhi) in August last year. With international oil prices cooling since, the fuel prices have been slashed in subsequent months.
Last month, state-owned oil companies Indian Oil, Bharat Petroleum and Hindustan Petroleum had revised jet fuel prices thrice on 1, 16 and 31 December, based on the average imported price in the preceding fortnight.
Jet fuel is a colorless, combustible, straight-run petroleum distillate liquid. Its principal uses are as jet engine fuel. The most common jet fuel worldwide is a kerosene-based fuel classified as JET A-1.The governing specifications in India are IS 1571: 2001.
IndianOil is the only oil company in India to market the widest possible range of fuels used by the aviation industry in India- JP-5, Avgas 100LL, Methanol Water Mixture, Jet A-1 and aviation lubricants, etc, the company said in its release.
