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Business News/ Politics / Policy/  Jet fuel price hiked by 2%
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Jet fuel price hiked by 2%

Aviation turbine fuel price at T3 in Delhi hiked by `1324.84 per kl to `67561.04 kl from Friday

Jet fuel constitutes over 40% of an airline’s operating costs and the increase in prices will add to the burden of cash-strapped airlines. Photo: Ramesh Pathania/Mint (Ramesh Pathania/Mint)Premium
Jet fuel constitutes over 40% of an airline’s operating costs and the increase in prices will add to the burden of cash-strapped airlines. Photo: Ramesh Pathania/Mint
(Ramesh Pathania/Mint)

New Delhi: Jet fuel prices were hiked by 2% on Friday, reversing the two month declining trend in rates. Aviation turbine fuel (ATF) price at T3 terminal in Delhi was hiked by 1324.84 per kilolitre (kl), or 2%, to 67561.04 kl from Friday, according to Indian Oil Corp. Ltd (IOC), the nation’s largest fuel retailer.

The increase comes after successive reductions in December and January when rates were cut Rs 688.4 per kl and 1472.92 per kl respectively. In Mumbai, jet fuel will cost 69,826.98 per kl as against 68,446.91 currently. Rates at different airports vary because of differential in local sales tax or value added tax (VAT).

Kolkata would see a price increase of 1432.19 to 76,586.20 per kl while it will cost 73,516.67 in Chennai as against 72,057.08 previously.

Jet fuel constitutes over 40% of an airline’s operating costs and the increase in prices will add to the burden of cash-strapped airlines. No immediate comments were available from the airlines on the impact of the price increase on passenger fares.

The three fuel retailers—IOC, Hindustan Petroleum Corp. Ltd and Bharat Petroleum Corp. Ltd—revise jet fuel prices on the first of every month, based on the average international price in the preceding month.

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Published: 01 Feb 2013, 03:28 PM IST
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