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After a brief lull, State-owned oil firms today hiked jet fuel or Aviation Turbine Fuel prices by a steep 2.7 per cent, in line with firming rates in the international markets.
The ATF price in Delhi has been hiked by Rs 1,520 a kilolitre (kl) or 2.69 per cent to Rs 57,844 per kl with effect from midnight tonight, an official of Indian Oil Corpsaid.
Prices of jet fuel, which accounts for 40 per cent of an airlines' operating cost, had softened this month. ATF rates, on July 1, were cut by over 2.75 per cent and only marginally raised by Rs 78 per kl from July 16.
ATF in Mumbai, home to the nation's busiest airport, will cost Rs 1,597 per kl more at Rs 58,628 per kl from tomorrow, as against the current price of Rs 57,031.66 per kl.
No comment could be immediately obtained from airlines on the impact of the price reduction on passenger fares.
ATF prices vary from airport to airport, depending on the local sales tax or VAT.
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