Jet fuel prices hiked marginally

For the second time since September, state-owned oil firms have marginally hiked jet fuel prices by an average of Rs158 a kilolitre. They had earlier raised prices by 3.3 per cent on 16 January.

From today, aviation turbine fuel costs Rs 27,275 a kilolitre in Delhi against Rs27,106 earlier, while In Mumbai, ATF prices will go up to Rs 28,023 a kilolitre, from the earlier Rs27,861, an Indian Oil Corporation (IOC) official said.

The jet fuel prices had peaked to Rs 71,028.26 a kilolitre in Delhi in August 2008, after crude oil prices touched a high of $147 a barrel in the international market. IOC, HPCL and BPCL revise ATF rates on the first and sixteenth of every month based on the average international jet fuel prices in the preceding fortnight.

Prior to this, the public sector oil firms had reduced jet fuel prices 11 times since September, with only the one raise in January. Prices were slashed every month till October and twice in November.