ATF prices shoot up 4 per cent

Mumbai: State-run oil PSUs today raised jet fuel prices by as much as 4 per cent, making it the eighth time this year that they have effected a hike in aviation turbine fuel (ATF) prices.

The price of jet fuel in the country''s financial capital, Mumbai, rose by Rs1,691.25 a kilolitre (4.1%) to Rs42,796.74.

The country''s oil refiners revise jet fuel prices once a month, and this constitutes a major portion of the operating costs of an airline, as also a major burden on a passengers ticket.

The announcement impacted the share prices of airlines accordingly, with Jet Airways and Air Deccan down by 2 per cent, and a one and half percent, respectively on the Bombay Stock Exchange.