Oil firms raise ATF prices by Rs158 per kl

Oil firms raise ATF prices by Rs158 per kl

New Delhi: Breaking the string of reductions, the state-owned oil firms today raised jet fuel or ATF prices marginally by Rs158 per kilolitre on an average.

Aviation turbine fuel (ATF) will cost Rs27,275 per kl in Delhi from midnight tonight against Rs27,106 per kl, an Indian Oil Corporation official said.

Prior to this, the public sector oil firms had reduced jet fuel prices 11 times since September last year. The oil firms had raised ATF prices by 3.3% only once on 16 January.

In Mumbai, home to the nation’s busiest airport, ATF rates were raised to Rs28,023 per kl from Rs27,861 per kl.

The increase in jet fuel prices announced today varied from airport to airport depending on local taxes and levies and an on average worked out to be 158 per kl.

ATF prices had peaked to Rs71,028.26 per kl (in Delhi) in August on international crude prices touching historic high of $147 a barrel. But they have since been slashed every month till October and twice in November but even after the latest price rise, jet fuel is still lower than diesel rates.

Indian Oil Corp, 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.