OMCs hike aviation fuel prices again
30 Sep 2011
New Delhi: State-owned oil marketing companies (OMCs) have hiked jet fuel, or Aviation Turbine Fuel (ATF), prices for the second time this month as a falling rupee has made oil imports costlier. The prices have been raised 1.5 per cent.
ATF price at Delhi will be up Rs899 per kilolitre (kl) from midnight today, to Rs58,578 per kl, an official of Indian Oil Corp said. The IOC is the nation's largest fuel retailer.
Along with other OMCs, Hindustan Petroleum and Bharat Petroleum the IOC had raised jet fuel price by 2.5 per cent.
At Mumbai, ATF will cost Rs59,359 per kl, Rs907 per kl more, from tomorrow as against the old price of Rs58,452.31 per kl.
No immediate comments were available from airlines on the impact of the price hike on passenger fares. According to industry estimates, aviation fuel constitutes 40 per cent of an airlines operating cost.
Across the country, ATF prices vary from airport to airport depending on the local sales tax or VAT structures.
In the country the state-owned fuel retailers revise jet fuel prices on the first and 16th of every month, based on the average international price in the preceding fortnight.
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