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State-owned oil firms have hiked jet fuel prices by 1.4 per cent, the 12th increase in rates in a row since October last year.
Aviation turbine fuel (ATF) prices in the national capital were increased by Rs 846.87 per kilolitre or 1.45 per cent to Rs 59,157.32 per kl, an official of Indian Oil Corporation, the nation?s largest fuel retailer, said.
The hike comes on the back of 6.14 per cent increase in rates effected from March 16 in line with rising crude oil prices.
The basket of crude oil that India buys averaged $110.66 per barrel in March against an average price of $101.16 a barrel in February.
In Mumbai, ATF is priced at Rs 59,900.02 per kl from today against Rs 59,031.39 per kl till yesterday.
No comment could be immediately obtained from airline companies on the impact of the latest price hike on passenger fares. Fuel accounts for 40 per cent of the airlines? operating cost.
Indian Oil Corporation 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.
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