Jet fuel to get dearer by 2 percent from midnight

Jet fuel constitutes over 40 percent of an airline's operating cost.

FP Archives|Dec 20, 2014, 07:03:53 IST

New Delhi: State-owned oil companies today hiked jet fuel price by 2 percent, the second increase in rates this month.

The price of aviation turbine fuel (ATF), or jet fuel, in Delhi was hiked by Rs 1,298.88 per kilolitre (kl), or 2 percent, to Rs 65,949.34 per kl with effect from midnight tonight, Indian Oil Corp., the nation's largest retailer, said.[caption id="attachment_245838" align="alignleft" width="380" caption="Flying gets costlier. Reuters"][/caption]

The increase in price comes on back of a 3.2 percent jump in rates effected from 1 March on back of firming international oil prices.

In Mumbai, ATF will cost Rs 66,989.74 per kl from Friday, against the current rate of Rs 65,636.74 per kl.

Jet fuel constitutes over 40 percent of an airline's operating cost and the hike in prices will add to the burden of the cash-strapped airlines.

No immediate comment was available from the airlines on the impact of the price increase on passenger fares.

The three fuel retailers revise jet fuel prices on the 1st and 16th of every month, based on the average international price in the preceding fortnight.

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