For the second time this month, state-owned oil retailers today raised aviation turbine fuel price by 2.44 per cent in step with firming global rates.
Jet fuel, or ATF, rates in Delhi were raised by Rs 961 per kilolitre, or 2.44 per cent, to Rs 40,268 per kl with effect from midnight tonight, an official of the Indian Oil Corporation (IOC), the nation's largest oil firm, said.
The rate hike comes on back of a 3.5 per cent increase on March 1, when rates were raised to Rs 39,307.07 per kl. Last month, ATF price were cut by 5.5 per cent on February 1 and 2.5 per cent on February 16.
Jet fuel constitutes roughly 40 per cent of the operating cost of an airline and today's increase in fuel rates would put extra burden on Indian carriers.
No immediate comments were available from airlines on the impact of the latest hike on airfares.
In Mumbai, the rates were raised by Rs 1,015 to Rs 41,561 per kl.
IOC and sister PSU fuel retailers Hindustan Petroleum and Bharat Petroleum revise jet fuel prices on the first and the 16th of every month based on the average global oil price in the previous fortnight.