Jet fuel prices hiked by 3.6%
New Delhi   16-Dec-2010

State-owned oil firms on Wednesday hiked jet fuel prices by a huge 3.6% 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%, with effect from Wednesday midnight, an official of IndianOil (IOC), the nation's largest fuel retailer, said. The latest hike comes on the back of a 1.4% raise on December 1 and a massive 5.5% increase effected on November 16, in sync with the rise in global rates.

With this hike, IOC and other PSU retailers, Bharat Petroleum and Hindustan Petroleum, have raised prices of jet fuel 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% in five tranches since then, in tandem with a surge in global oil prices to $90 per barrel mark.

No comments could be immediately obtained from airline companies 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.

Jet fuel will cost Rs 47,084.40 per kl in Mumbai from Thursday as against Rs. 45,379.62 per kl currently.

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.