Oil companies hike jet fuel prices by 6 per cent
30 Jun 2009
State-run oil marketing companies have raised the price of aircraft turbine fuel (ATF) or jet fuel by more than 6 per cent - for the fourth time in two months - as global prices of crude oil continued to rise.
Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp hiked ATF prices between Rs2,306 and Rs38,558 per kilolitre in Delhi, effective midnight tonight.
In Mumbai, the rate will go up from Rs37,367 per kl to Rs39,789 per kl.
In Kolkata, ATF will be dearer at Rs46,711 per kl against Rs44,289 per kl, while in Chennai the price will go up by Rs2,500 per kl to Rs42,524 per kl.
The companies had, on 15 June, raised ATF prices by Rs3,949 to Rs36,252 per kl in Delhi, on the back of an over 12 per cent hike in crude prices.
Crude prices touched an eight-month high above $73 a barrel in Asian trade on the New York Mercantile Exchange today, helped by a weak dollar and rebel attacks on Nigerian oil installations.
The three state-run retailers had, from 1 June, raised jet fuel prices by an average Rs108 per kl after a 1.8 per cent hike on 16 May.
The rise in ATF price, which constitutes 40 per cent of airlines' operating cost, may further put pressure on cash-strapped domestic carriers.
