Oil PSUs hike jet fuel prices by 4%

Indian Oil Corporation, oil marketing firm and the country's largest refiner, along with other state-run counterparts today raised jet fuel prices by as much as 4%. This is the eight time this year that oil firms have effected a hike in aviation turbine fuel (ATF) prices.

The price in of jet fuel in country's financial capital, Mumbai rose by Rs 1,691.25 a kilolitre (4.1%) to Rs 42,796.74 The country's oil refiners revise jet fuel prices once a month which makes up a significant chunk of costs for air carriers.

On the Bombay Stock Exchange, shares of Jet Airways traded at Rs 857.90 at 1223 hrs, down 2.09%, whereas those of Deccan Aviation traded at Rs 150, down 1.77%.