For the third consecutive fortnight, state-owned oil retailers today raised aviation turbine fuel prices, this time by 1.4 per cent, in line with firming global rates.
Jet fuel, or ATF, rates in Delhi have been raised by Rs 573.15 per kilolitre, or 1.4 per cent, to Rs 48,841.40 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 2.4 per cent hike on March 16 when prices were raised to Rs 40,268.25 per kl. On March 1, prices were increased by 3.5 per cent to Rs 39,307.07.
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.
When asked whether they would be reviewing their air fares due to hike in ATF prices, aviation industry sources said they will study the situation and take a decision in a few days.
In Mumbai, the rates were raised by Rs 598.03 to Rs 42,159.48 per kl.
IOC and its 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.
