Financial Daily from THE HINDU group of publications
Tuesday, May 02, 2006
Financial Daily from THE HINDU group of publications Tuesday, May 02, 2006 |
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Industry & Economy
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Petroleum ATF prices up 10 pc Our Bureau
New Delhi , May 1 The global northward movement in oil prices has taken a toll in the domestic market. The public sector oil companies today hiked the price of aviation turbine fuel (ATF) by more than 10.6 per cent with the average per kilolitre price for the month touching Rs 41,950 up from Rs 37,900 charged last month. This is the second consecutive month that domestic ATF prices have moved northwards. The increase in fuel prices has seen the domestic airline industry impose a fuel surcharge payable to partially offset the growing input costs. Fuel costs constitute 30-35 per cent of operating costs. Last week, both Jet Airways and the low cost airline Air Deccan announced their decision to impose a fuel surcharge of Rs 300. Kingfisher Airlines has also announced that it would impose a fuel surcharge of Rs 300 - the date from which it would be levied is yet to be firmed up. The state-owned Indian Airlines and low cost airline SpiceJet are yet to take a decision on whether they would pass on the rise in fuel costs to the passenger or absorb it. SpiceJet had earlier announced a fuel surcharge of between Rs 50-100 depending on the distance flown. However, the airline later put on hold the decision to impose a fuel surcharge.
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