Oil companies hike jet fuel prices as crude spurts
31 Oct 2009
State-owned oil firms on Saturday hiked jet fuel prices by nine per cent to over Rs39,000 per km following a spurt in international oil prices.
Aviation turbine fuel (ATF) or jet fuel prices will be increased by an average of Rs3,400 per kl effective midnight tonight, an official of the Indian Oil Corp, the nation's largest oil firm, said.
IOC, Bharat Petroleum and Hindustan Petroleum had for three consecutive fortnights reduced ATF rates, mostly because international oil prices had eased and the rupee strengthened against US dollar.
After the cuts, jet fuel prices in Delhi came down to Rs36,188.27 per kl from Rs39,188 at the beginning of September. The hike announced today would negate all the cuts, and ATF prices would be back to their September levels.
The IOC official said the new rates at the four metros were being worked out and would be announced later. The three oil firms revise jet fuel prices on the first and the 16th day of every month based on the average global oil price in the previous fortnight.
ATF price in Delhi was raised by Rs3,286 per kl to Rs39,474 per kl, while in Mumbai, the nation's busiest air destination, it will cost Rs40,723 per kl against Rs37,299.50 per kl currently.
The jet fuel price in Kolkata has been raised by Rs3,431 per kl to Rs47,680 and that in Chennai by Rs3,528 to Rs43,493 per kl, the IOC official said.
