New Delhi, Jan 15 (PTI) State-owned oil firms today hikedjet fuel prices by 2 per cent, the seventh straight increasein rates since October when international crude oil pricesstarted climbing.
Aviation Turbine Fuel (ATF) rates in Delhi have beenhiked by Rs 948.5 per kilolitre, or 1.98 per cent, to Rs48,764 per kl with effect from midnight tonight, an officialof Indian Oil Corp (IOC), the nation''s largest fuel retailer,said.
The latest hike comes on the back of a Rs 935 per kl hikefrom January 1 and a massive 3.6 per cent increase on December15.
With this hike, IOC and sister public sector retailersBharat Petroleum and Hindustan Petroleum have raised prices ofjet fuel, or ATF, on seven occasions since October.
The ATF price in Delhi on October 1 was Rs 40,728.52 perkl. The rates were increased by Rs 8,035.48 per kl or 19.7 percent in seven tranches since then, in tandem with a surge inglobal oil prices which have risen to USD 98 per barrel mark.
Jet fuel will cost Rs 49046 per kl in Mumbai, home tothe nation''s busiest airport, from tomorrow, as against Rs48058.56 per kl currently.
No comment could be immediately obtained from airlinecompanies on the impact of the latest price hike on passengerfares.
Fuel cost accounts for 40 per cent of the airlines''operating cost,
The three state-owned oil retailers revise jet fuelprices on the 1st and 16th of every month, based on theaverage international price in the preceding fortnight.
In Kolkata, the ATF price has been hiked by Rs 1027.26 toRs 56,186 per kl, while in Chennai, it will cost Rs 52,323 perkl as against Rs 51,275.32 per kl currently.