CorporatePSU oil firms hike ATF prices by 2.4%
For the second time this month, state-owned oil firms today hiked jet fuel prices, this time by 2.4 per cent following a spurt in international oil rates.
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Aviation Turbine Fuel (ATF) prices in Delhi will be increased by Rs 948 per kilolitre to Rs 40,423 per kl effective midnight tonight, an official of the Indian Oil Corp (IOC), the nation"s largest oil firm, said.
The comes on back of over 9 per cent hike in jet fuel prices on November 1.
ATF rates in Mumbai, the home to nation"s busiest airport, will go up by Rs 988 to Rs 41,710 per kl.
IOC, Bharat Petroleum and Hindustan Petroleum had for three consecutive fortnights reduced ATF rates mostly because international oil prices had eased and rupee strengthened against the US dollar.
In three cuts, jet fuel prices in Delhi came down to Rs 36,188.27 per kl from Rs 39,188 at the beginning of September. On November 1, rates in Delhi were raised by Rs 3,286 per kl to Rs 39,474 per kl, while in Mumbai it was priced at Rs 40,723 per kl, against Rs 37,299.50 per kl previously.
After two hikes, the ATF prices are now above the September levels, the official said.
The three oil firms revise jet fuel prices on the first and the 16th day of every month based on the average global oil price in the previous fortnight.
The jet fuel price in Kolkata has been raised by Rs 1,001 per kl to Rs 48,681 and that in Chennai by Rs 1,033 to Rs 44,526 per kl, the IOC official said.