New Delhi: Public sector oil marketing companies (OMCs)- Indian Oil Corporation Ltd (IOC), Hindustan Petroleum Corporation Ltd (HPCL), and Bharat Petroleum Corporation Ltd (BPCL)- revised the price of aviation turbine fuel (ATF) or jet fuel. ATF price was hiked by 1.45 per cent in the monthly revision done in line with international oil price trends.
The ATF price was increased by Rs 1,318.12 per kilolitre, or 1.45 per cent, to Rs 91,856.84 per litre in Delhi. Meanwhile, prices in Kolkata were increased to Rs 94,551.63 per litre. In Mumbai and Chennai, the prices were increased to Rs 85,861.02 and Rs 95,231.49 per litre.
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The latest hike is the second straight monthly increase in jet fuel prices. Rates were increased by Rs 2,941.5 per litre (3.3 per cent) on November 1. Back then, the hike came after two rounds of reduction which had taken the rates to their lowest level this year. On October 1, the ATF price was cut by 6.3 per cent (Rs 5,883 per litre) and by Rs 4,495.5 per litre, or 4.58 per cent on September 1.
State-owned oil marketing companies revise prices of ATF on the first of every month based on the average price of benchmark international fuel and foreign exchange rate. This hike will make air travel costlier as Jet fuel price make up almost 40% of the operating cost of an airline.
Meanwhile, the state-owned corporations have also increased the prices of 19-kg commercial LPG cylinders which are used in hotels and restaurants among other places. However, the cost of the domestic LPG cylinder of 14 kg remained unchanged
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