Aviation fuel price goes up again, but no fare hike nowJuly 31st, 2008 - 10:38 pm ICT by IANS
New Delhi, July 31 (IANS) State-run oil companies Thursday hiked aviation turbine fuel (ATF) prices by 2.8 percent, but airline operators said they will wait and watch the market situation before taking a decision on raising airfares. Aviation fuel in New Delhi will now be costlier by Rs.1,931.07 per kilolitre from midnight, a senior Indian Oil official said.
This is the second state increase in ATF prices, which are revised once a month based on monthly average of global oil prices, said the official.
The benchmark Brent crude price has been falling steadily since July 11, when it peaked at $147.02 per barrel; it was going for $125.93 Thursday, around the same price that prevailed mid-May, much before the first ATF price in India June 9.
An Air India spokesperson said ATF prices depended on demand and supply and the dynamics of the market. “The market is extremely volatile currently,” he said.
The fuel would now be priced at Rs.71,028.26 per kilolitre from Aug 1 as against Rs.69,097.19 per kilolitre.
Similarly, in Mumbai, aviation fuel prices have been hiked to Rs.73,673.56 as against Rs.71,630.53 per kilolitre, said an Indian Oil official.
The fuel will cost $41.68 per kilolitre more for international airlines refuelling at Delhi. The new rates for ATF for foreign lines, which do not pay local sales tax, will be $1,290.58 per kilolitre.
Reacting to the aviation fuel hike, the Air India spokesperson said it would first look at the impact of the aviation fuel hike. “We will be the last to increase the fares,” he said.
“We cannot decide on fare hike now. We will assess the market situation first,” said a Jet Airways spokesperson.
The state-owned Air India and budget airline SpiceJet hiked fares June 19 by at least Rs.300 following the first upward revision of turbine fuel (ATF).
- Air India hikes fares by 10 percent, others to follow (Lead) - Jul 31, 2008
- Hike in jet fuel price to jack up air fares: Patel - Jan 17, 2011
- Jet fuel price hiked by 4.5 percent - Aug 01, 2012
- Jet fuel price cut by Rs.1,974 a kilolitre - Jan 31, 2012
- Jet fuel price cut by Rs.622 a kilolitre - Dec 31, 2011
- Jet fuel price cut by Rs.350.70 a kilolitre - Feb 16, 2012
- Jet fuel price hiked by 3.2 percent - Aug 16, 2012
- Indian Oil Corporation raises jet fuel prices by 4.5 percent - Jan 31, 2011
- Airfare to rise along with fuel price, says Praful Patel - Jan 18, 2011
- Aviation fuel prices raised - Apr 15, 2011
- Aviation fuel prices raised 3.6 percent - Dec 15, 2010
- Oil firms increase jet fuel price by 3.70 percent - Nov 30, 2011
- Oil firms increase jet fuel price by two percent - Nov 15, 2011
- IOC again hikes ATF prices by 2 percent - Dec 31, 2010
- Government approves direct jet fuel import, Air India debt plan (Lead) - Feb 07, 2012
Tags: air india, airline operators, atf, aviation fuel price, aviation fuel prices, benchmark brent, brent crude price, budget airline, demand and supply, fare hike, global oil prices, indian oil, international airlines, jet airways, local sales, market situation, oil companies, rs 1, turbine fuel, upward revision