Friday, September 30, 2011

Oil companies raise jet fuel prices again. (Delhi, India)

For the second time this month, state-owned oil companies today hiked jet fuel, or ATF, price by 1.5% as falling rupee made oil imports costlier.

Aviation Turbine Fuel (ATF) price at Delhi's T3 airport was hiked by Rs 899 per kilolitre (kl), or 1.5%, to Rs 58,578 per kl with effect from midnight tonight, an official of Indian Oil Corp , the nation's largest fuel retailer, said.

IOC and other state retailers, Hindustan Petroleum and Bharat Petroleum , had on September 16 raised jet fuel price by 2.5%.

ATF in Mumbai, home to the nation's busiest airport, will cost Rs 907 per kl more at Rs 59,359 per kl from tomorrow as against the old price of Rs 58,452.31 per kl.

Jet fuel makes up for 40% of an airlines' operating cost and no immediate comments were available from airlines on the impact of the price hike on passenger fares.

ATF prices vary from airport to airport, depending on the local sales tax or VAT.

The three fuel retailers revise jet fuel prices on the 1st and 16th of every month, based on the average international price in the preceding fortnight.

No comments:

Post a Comment