For the fourth time in two months,state-run oil firms today hiked jet fuel or ATF price by more than 6 per cent on firming international oil prices. Indian Oil,Bharat Petroleum and Hindustan Petroleum raised aviation turbine fuel (ATF) price by Rs 2,306 to Rs 38,558 per kilolitre in Delhi effective midnight tonight,an IOC official said. The hike comes on back of over 12 per cent hike on June 15. ATF price on that day were raised by Rs 3,949 to Rs 36,252 per kilolitre in Delhi. International crude oil prices have firmed to a seven-month high of $72 per barrel on hopes of demand revival in US. The three state-run retailers had from June 1 raised jet fuel rate by an average of Rs 108 per kl,which came on the back of a 1.8 per cent hike in rates on May 16. In Mumbai,the rate will go up from Rs 37,367 per kl to Rs 39,789 per kl. The rise in ATF price,which constitutes 40 per cent of airlines operating cost,may put more pressure on cash-strapped domestic carriers.
