Aviation turbine fuel (ATF) was made more expensive on Tuesday, in the second hike in the price of jet fuel so far this month. The price of ATF was increased 16.3 per cent in Delhi amid firming international crude oil rates. The price of aviation turbine fuel in the national capital was raised by Rs 5,494.5 per kilolitre (kl) to Rs 39,069.87 per kl, according to a price notification by state-owned oil marketing companies. Earlier, the ATF prices were hiked a record 56.5 per cent - by Rs 12,126.75 per kl - on June 1.
The rates of aviation turbine fuel were increased across the country. The prices vary from state to state depending on local sales taxes.
(Also Read: Petrol, Diesel Become More Expensive For Tenth Day In A Row)
The June 1 hike in jet fuel prices had followed seven straight reductions in jet fuel rates since February. The ATF price in Delhi was Rs 64,323.76 per kilolitre before the reduction cycle that began in February, which got reduced to Rs 21,448.62 last month.
Industry officials said the hike was necessitated because benchmark international rates have bounced back from a two-decade low.
Currently, while ATF prices are revised on 1st and 16th of every month, petrol and diesel prices are revised on a daily basis. Earlier, oil companies used to revise ATF prices on the first day of every month, but switched to a system of fortnightly revisions on March 21 to pass on the benefit of falling international oil prices to airlines.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
