Jet fuel price hiked third time in a month

Jet fuel price hiked third time in a month
PTI
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First Published: Wed, Apr 15 2009. 11 06 PM IST

More costly: Fuelling in progress at the IGI airport in New Delhi. Ramesh Pathania / Mint
More costly: Fuelling in progress at the IGI airport in New Delhi. Ramesh Pathania / Mint
Updated: Wed, Apr 15 2009. 11 06 PM IST
New Delhi: State-run oil companies on Wednesday raised prices of aviation turbine fuel, or ATF, for the third time in a month, this time by about 6.7%, in step with international rates, which are firming up.
More costly: Fuelling in progress at the IGI airport in New Delhi. Ramesh Pathania / Mint
Indian Oil Corp. Ltd (IOC ), Bharat Petroleum Ltd and Hindustan Petroleum Ltd had on 1 April raised aviation turbine fuel prices by 10% after a marginal Rs158 per kl increase two weeks prior to that. “ATF in Delhi will cost Rs31,926 per kl from tomorrow against Rs29,925.97 per kl (presently),” an IOC official said.
On 16 March, jet fuel rates were raised by Rs168.85 per kl and by Rs2,651.02 per kl on 1 April. The cumulative increase in the past three fortnight works out to 17.8%. “The prices have been raised as international rates have been on the rise since the second week of March,” he said.
In Mumbai, home to the nation’s busiest airport, ATF rates were raised to Rs32,855 per kl from Rs30,784.81 per kl.
The latest increase in jet fuel prices varied from airport to airport depending on local taxes and on average worked out to Rs 2,066 per kl.
Prior to these increases, public sector firms had reduced jet fuel prices 11 times since September last year. In between, the oil firms had raised ATF prices by 3.3% on 16 January.
Prices had peaked to Rs71,028.26 per kl (in Delhi) in August on international crude prices touching a historic high of $147 a barrel.
IOC, Hindustan Petroleum and Bharat Petroleum revise ATF rates on the 1st and 16th of every month based on the average international jet fuel rates in the preceding fortnight.
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First Published: Wed, Apr 15 2009. 11 06 PM IST