ATF price hike

Oil firms hike ATF prices by 1.4 pc


01 Dec 2010 PETROLEUM BAZAAR

NEW DELHI: State-owned oil firms today hiked jet fuel prices by 1.4 per cent, the fourth increase in rates in two months. Aviation Turbine Fuel (ATF) rates in Delhi have been hiked by Rs 636.46 per kilolitre, or 1.4 per cent, to Rs 45,240 per kl with effect from midnight tonight, an official of Indian Oil Corp (IOC), the nation's largest fuel retailer, said.



The latest hike comes on the back of a massive 5.5 per cent increase in ATF prices effected on November 16, in sync with the rise in global rates.



With this hike, IOC and sister public sector retailers Bharat Petroleum and Hindustan Petroleum have raised prices of jet fuel, or ATF, on four occasions since October. The ATF price in Delhi on October 1 was Rs 40,728.52 per kl. The rates were increased by over 11 per cent in four hikes since then, in tandem with a surge in global oil prices past the USD 80 per barrel mark.



Jet fuel, will cost Rs 45,379.62 per kl in Mumbai, home to the nation's busiest airport, from tomorrow, as against Rs 44,716.65 per kl currently. No comment could be immediately obtained from airline companies on the impact of the latest price increase. The three state-owned oil retailers revise jet fuel prices on the 1st and 16th of every month, based on the average international price in the preceding fortnight.



In Kolkata, the ATF price has been hiked by Rs 649 to Rs 52,452.14 per kl, while in Chennai, it will cost Rs 48,496.70 per kl as against Rs 47,812.51 per kl currently. Courtesy: ET

01 Dec 2010 PETROLEUM BAZAAR

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