Oil firms hike jet fuel prices by 6 pc to Rs 58,310.45 per kl

New Delhi, Mar 15 (PTI) State-owned oil firms on Tuesday
hiked jet fuel prices by a massive 6 per cent, the 11th rate
increase in six months.
Aviation turbine fuel (ATF) rates in Delhi have been
hiked by Rs 3,377.09 per kilolitre (kl), or 6.14 per cent, to
Rs 58,310.45 per kl with effect from Tuesday midnight, an
official of Indian Oil Corp, the nation's largest fuel
retailer, said.
The hike comes on the back of three consecutive massive
hikes effected since February this year, when crude oil spiked
to over USD 100 per barrel.
Tuesday's hike is the 11th straight increase in jet fuel
prices since October, 2010, when international crude oil
prices started soaring.
The ATF price in Delhi on October 1, 2010 was Rs
40,728.52 per kl. The rates have been increased by Rs
17,581.93 per kl, or 43.16 per cent, in 11 tranches since
then.
Jet fuel will cost Rs 59,031.39 per kl in Mumbai, home to
the nation's busiest airport, from Wednesday, as against Rs
55,500.06 per kl 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 Corp 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.