Oil firms raise ATF prices by 3.2%

For the fourth time in two months state-owned oil retailers today raised jet fuel or ATF prices, this time by 3.2 per cent, in step with rise in global oil rates.

Aviation turbine fuel (ATF) rates in Delhi have been raised by Rs 1,338 per kilolitre, or 3.2 per cent, to Rs 42,179 per kl with effect from midnight tonight, an official of the Indian Oil Corp (IOC), the nation's largest oil firm, said.

Jet fuel constitutes roughly 40 per cent of the operating cost of an airline and today's increase in fuel rates would put extra burden on Indian carriers.

The hike comes on back of a 1.4 per cent increase on April 1 when prices in Delhi were raised to Rs 40,841.40 per kl. In March, rates were raised by Rs 2,286.03 per kl in two installments.

In Mumbai, the prices were today raised by Rs 1,380 to Rs 43,540 per kl.

IOC and its sister PSU fuel retailers Hindustan Petroleum and Bharat Petroleum revise jet fuel prices on the first and the 16th of every month based on the average global oil price in the previous fortnight.