Oil companies hike aviation fuel prices again

New Delhi, May 1 (UNI) The country's public sector oil companies today hiked prices of Aviation Turbine Fuel (ATF) by 8.6 per cent with immediate effect, an increase between Rs 3,100 and Rs 3,700 per kilolitre.

The increase in prices is inclusive of excise duty and sale tax for the domestic sector and between 54-58 dollars per kilolitre for international airlines.

The hike is the second time in a row this month and oil companies say that the move is in consonance with the surge in international oil prices.

This is the second hike after April 1 where the prices of ATF went up by Rs 831 to Rs 1,015 per kilolitre.

Unlike the other fuel like petrol, domestic LPG and diesel, ATF is the only transport fuel, whose prices public sector oil firms have been able to adjust in line with the global oil prices.

Indian Oil Corporation (IOC) has said that because of non-revision of retail prices of petroleum products the move would lead to under-recoveries of Rs 57,000 crore by oil marketing companies including- IOC, Bharat Petroleum Corporation and Hindustan Petroleum Corporation in 2006-07.

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