Jet fuel price hiked by 4.5 percentAugust 1st, 2012 - 5:50 pm ICT by IANS
New Delhi, August 1 (IANS) Oil marketing companies (OMC) Wednesday hiked aviation turbine fuel (ATF) or jet fuel price by 4.5 percent for the second time in a month.
According to Indian Oil Corp (IOC), the largest oil marketing firm in the country, ATF price in Delhi was increased by Rs.2,797.41 per kilolitre (kl) to Rs.65,005.59.
In Mumbai, it will cost Rs.65,884.34 per kl, up from the earlier Rs.63,002.45 per kl.
The earlier hike July 16 was of 1.6 percent, costing an additional Rs.1,039 a kl.
The three oil marketing companies - IOC, Bharat Petroleum and Hindustan Petroleum - revise aviation fuel prices on the 1st and 16th of every month, based on the preceding fortnight’s average international price.
There was a steep 5 percent cut effected on June 16 followed by a two percent reduction on July 1. Jet fuel had fallen to an eight-month low of Rs.61,169.08 per kl in early July.
Jet fuel forms around 40 percent of operating costs for an airline. The latest increases have neutralised 50 percent of airlines’ gains accruing from earlier reductions.
- Jet fuel price hiked by 3.2 percent - Aug 16, 2012
- Jet fuel price cut by Rs.350.70 a kilolitre - Feb 16, 2012
- Jet fuel price cut by Rs.622 a kilolitre - Dec 31, 2011
- Jet fuel price cut by Rs.1,974 a kilolitre - Jan 31, 2012
- Oil firms cut jet fuel prices by 1.38 percent (Lead) - Dec 15, 2011
- 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
- Government approves direct jet fuel import, Air India debt plan (Lead) - Feb 07, 2012
- Aviation fuel prices raised - Apr 15, 2011
- Government rolls out plan to help domestic airlines (Roundup) - Feb 07, 2012
- Aviation stocks rally after direct jet fuel import allowed - Feb 07, 2012
- Indian Oil Corporation raises jet fuel prices by 4.5 percent - Jan 31, 2011
- Jet fuel prices down, but no respite to passengers - May 16, 2011
- Aviation fuel prices raised 3.6 percent - Dec 15, 2010
- Airlines should tie-up with suppliers to import jet fuel - Feb 16, 2012
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