3526

Jet fuel price hiked by 2%

Saturday’s price hike is fifth increase in rates since July, adding to burden of cash-strapped airlines
PTI Mail Me
Comment E-mail Print Share
First Published: Sat, Sep 15 2012. 07 43 PM IST
Saturday’s ATF price hike and 1 September’s 7.6% increase were trigerred by firming international oil rates and a decline in rupee value against the US dollar. Photo: Hindustan Times
Saturday’s ATF price hike and 1 September’s 7.6% increase were trigerred by firming international oil rates and a decline in rupee value against the US dollar. Photo: Hindustan Times
Updated: Sun, Sep 16 2012. 09 42 PM IST
New Delhi: Days after diesel rates were hiked by a steep Rs.5 per litre, jet fuel prices were raised on Saturday by around 2% to Rs.73,711 per kilolitre.
Aviation turbine fuel (ATF) prices at T3 terminal in the Delhi airport have been hiked by Rs.1,429 per kilolitre, or 1.97%, to Rs.73,711 per kilolitre with effect from midnight, according to Indian Oil Corp. Ltd (IOC), the nation’s largest fuel retailer.
The government had on Thursday announced the first hike in diesel rates in more than 14 months.
Saturday’s ATF price hike and 1 September’s 7.6% increase were trigerred by firming international oil rates and a decline in rupee value against the US dollar.
The price hike is the fifth increase in rates since July, adding to the burden of cash-strapped airlines.
In Mumbai, jet fuel will cost Rs.74,332 per kilolitre from Sunday against Rs.72,830.64 per kilolitre at present. Jet fuel constitutes around 40% of an airline’s operating costs and the increase in prices will put fresh burden on cash-strapped airlines.
No immediate comments were available from the airlines on the impact of the price hike on passenger fares.
The three fuel retailers—IOC, Hindustan Petroleum Corp. Ltd and Bharat Petroleum Corp. Ltd—revise jet fuel prices on the 1st and 16th days of every month, based on the average international price in the preceding fortnight. PTI
Comment E-mail Print Share
First Published: Sat, Sep 15 2012. 07 43 PM IST
More Topics: Jet fuel | price hike | ATF | aviation | airlines |
blog comments powered by Disqus
  • Wed, Apr 23 2014. 05 42 PM
  • Wed, Apr 16 2014. 06 11 PM
ALSO READ close

ATF price cut: a small breather for SpiceJet

Subscribe |  Contact Us  |  mint Code  |  Privacy policy  |  Terms of Use  |  Advertising  |  Mint Apps  |  About HT Media  |  Jobs
Contact Us
Copyright © 2014 HT Media All Rights Reserved