Aviation fuel prices raised 3.6 percent
By IANSWednesday, December 15, 2010
NEW DELHI - State-owned oil marketing company Indian Oil Corporation (IOC) Wednesday raised aviation turbine fuel (ATF) prices by 3.6 percent, taking them up by Rs.1,636.58 a kilolitre to Rs.46,876.58 in the national capital.
The new rates would be applicable from Thursday. The hike comes against the backdrop of a decision taken by the three state-run oil firms on Tuesday to hike prices of petrol by nearly Rs.3 per litre.
This is the fifth straight ATF rate hike since October, when the international oil prices showed an upward trajectory.
Crude oil prices, which were $79 a barrel during June, soared to a two-year high of about $90 a barrel Tuesday, before settling at $88.5 per barrel.
After the hike, AFT in Mumbai will cost Rs.47,084.40 per kilolitre against Rs.45,379.62, while in Kolkata, the price has been hiked by Rs 1,731.84 to Rs 54,183.98 per kilolitre. In Chennai, ATF will now cost Rs. 50,269.99 per kilolitre as against the earlier price of Rs 48,496.70
State-owned oil retailers IOC, HPCL and BPCL revise ATF prices based on the average international prices, on the 1st and 16th of every month.
ATF prices were last hiked on Dec 1 by 1.4 percent.
