New Delhi: For the second time this month, state-owned oil firms on Sunday hiked jet fuel prices, this time by 2.4%, after a spurt in international oil rates.
Aviation turbine fuel (ATF) prices in Delhi will be increased by Rs948 per kl to Rs40,423 per kl effective midnight, an official of the Indian Oil Corp. Ltd (IOC), the nation’s largest oil company, said on Sunday.
This comes on back of an at least 9% hike in ATF prices on 1 November.
Rising costs: A file photo of a plane being fuelled at the Indira Gandhi International Airport in New Delhi. Ramesh Pathania / Mint
ATF rates in Mumbai will go up by Rs988 to Rs41,710 per kl.
IOC, Bharat Petroleum Corp. Ltd and Hindustan Petroleum Corp. Ltd had for three consecutive fortnights cut ATF rates, mostly because global oil prices had eased and rupee strengthened against the dollar.
After the two hikes, ATF prices are now above the September levels, the official said.
The three oil firms revise jet fuel prices on the first and the 16th day of every month, based on the average global oil price in the previous fortnight.
ATF prices in Kolkata have been increased by Rs1,001 per kl to Rs8,681, and that in Chennai, by Rs1,033 to Rs44,526 per kl, the IOC official said.