State-owned oil firms today raised jet fuel or aviation turbine fuel (ATF) price by an average of Rs 2,750 per kilolitre or about 10 per cent, making it the second such hike in 15 days.
ATF will cost Rs 29,926 per kl, or 9.7 per cent higher, in Delhi from midnight tonight, against Rs 27,274.95, an Indian Oil Corporation official said.
"The prices have been raised as international rates have firmed up in March," he said.
On March 16, the oil companies had raised jet fuel price marginally by Rs 158 per kl.
Prior to these increases, the public sector oil firms had reduced jet fuel prices 11 times since September last year. In between, the oil firms had raised ATF prices by 3.3 per cent on January 16.
In Mumbai, home to the nation's busiest airport, ATF rates were raised to Rs 30,785 per kl from Rs 28,023.34 per kl.
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The increase in jet fuel prices announced today varied from airport to airport depending on local taxes and levies and on an average worked out to be Rs 2,750 per kl.
ATF prices had peaked to Rs 71,028.26 per kl (in Delhi) in August 2008, as international crude prices touched historic high of $147 a barrel. But subsequently they had fallen, slashed every month till October and twice a month from November.
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.