As a marginal departure from the string of reductions,the state-owned oil firms on Sunday raised Aviation Turbine Fuel (ATF) prices by Rs 158 per kilolitre on average.
The fuel will cost Rs 27,275 per kl in Delhi from midnight tonight against Rs 27,106 per kl,an Indian Oil Corporation official said. Earlier,the public sector oil firms had reduced jet fuel prices 11 times since September last year. This is the second such increase in fuel price since then; oil firms had raised ATF prices by 3.3 per cent only once on January 16.
At the countrys busiest airport in Mumbai,ATF rates were raised to Rs 28,023 per kl from Rs 27,861 per kl. The increase in jet fuel prices announced today varied from airport to airport depending on local taxes and levies and an on average worked out to be Rs 158 per kl. The sales tax on jet fuel varies from 4 per cent to 30 per cent across different states.
ATF prices had peaked to Rs 71,028.26 per kl (in Delhi) in August on international crude prices touching a high of $ 147 a barrel. But they have since been slashed every month till October and twice in November but even after the latest price rise,jet fuel is still lower than diesel rates. Recently,low-cost carriers cut down fuel surcharge while full service carriers continued with higher fuel surcharges.