Jet fuel price hiked by nearly one percent


India’s largest fuel retailer Indian Oil announced a 0.81 percent increase in the price of jet fuel in New Delhi region, effective from midnight Saturady.

According to IOC, the aviation turbine fuel (ATF) will cost airlines 0.81 percent more at New Delhi – Rs.74,204.74 per kilolitre from Rs.73,607.26 per kilolitre.

The fuel price difference in other major cites will be decided by factoring in the state tax regimes applicable.

The three state-owned oil marketing companies (OMCs), which revise jet fuel prices on the first day of every month, had reduced ATF price by 4.51 percent on Oct 31, 2013, a month after hiking prices by a massive 6.9 percent for purchases from Sep 1.

Fuel prices are a determining factor in the tough Indian aviation sector as the cost comprises about 50 percent of the total operating costs of an airline.

Full report here IndiaTV


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