For the 10th fortnight in a row, state-owned oil firms on Monday raised jet fuel price by 3.4 per cent in line with spike in crude oil prices.Aviation turbine fuel rates in Delhi have been hiked by Rs 1,870 per kilolitre, or 3.4 per cent, to Rs 54,933 per kilolitre with effect from midnight on Monday, an official of Indian Oil Corporatuon, nation's largest fuel retailer, said.
The hike comes on back of two massive hikes effected on February 1 and 16.
This is the 10th straight increase in jet fuel prices since October 2010, when international crude oil prices started soaring.
The ATF price in Delhi in October 1 was Rs 40,728.52 per kilolitre.
The rates were increased by Rs 14,204.48 per kilolitre or 34.87 per cent in 10
tranches since then, in tandem with surge in global oil prices.
Jet fuel will cost Rs 55,500 per kilolitre in Mumbai, home to the nation's busiest airport, from tomorrow, as against Rs 53,538 per kilolitre currently.
No comment could be immediately obtained from airline companies on the impact of the latest price hike on passenger fares. Fuel cost accounts for 40 per cent of the airlines' operating cost.
Indian Oil Corporation and sister public sector retailers Bharat Petroleum and Hindustan Petroleum revise jet fuel prices on the 1st and 16th of every month, based on the average international price in the preceding fortnight.
