Jet fuel prices raised by 3.6%

State-owned oil firms today hiked jet fuel prices by a huge 3.6 per cent to Rs 46,876.58 per kl, making it the fifth straight increase in rates since October when international crude oil prices started climbing.

Aviation Turbine Fuel (ATF) rates in Delhi have been hiked by Rs 1,636.58 per kilolitre, or 3.6 per cent, with effect from midight tonight, an official of Indian Oil Corp (IOC), the nation's largest fuel retailer, said.

The latest hike comes on the back of a 1.4 per cent raise on December 1 and a massive 5.5 per cent increase effected on November 16, in sync with the rise in global rates.

With this hike, IOC and sister public sector retailers Bharat Petroleum and Hindustan Petroleum have raised prices of jet fuel, or ATF, on five occasions since October.

The ATF price in Delhi on October 1 was Rs 40,728.52 per kl. The rates were increased by 15 per cent in five tranches since then, in tandem with a surge in global oil prices to USD 90 per barrel mark.

Jet fuel, will cost Rs 47084.40 per kl in Mumbai, home to the nation's busiest airport, from tomorrow, as against Rs 45,379.62 per kl currently.

No comment could be immediately obtained from airline companies, for whom fuel cost accounts for 40 per cent of their operating cost, on the impact of the latest price increase on passenger fares.

The three state-owned oil retailers revise jet fuel prices on the 1st and 16th of every month, based on the average international price in the preceding fortnight.

In Kolkata, the ATF price has been hiked by Rs 1,731.84 to Rs 54183.98 per kl, while in Chennai, it will cost Rs 50269.99 per kl as against Rs 48,496.70 per kl currently.