ATF Prices Hiked by 2.4% for Second Time in a Month
As confirmed by the company recently, PSU oil major Indian Oil Corp. will, for the second time this month, be increasing Aviation Turbine Fuel prices in Delhi by 2.4%, or Rs. 948 per kilo-liter, taking the new price of 1 kilo-liter to Rs. 40,423. The hike was made official by IOC on Sunday, and has come after a 9% hike which was announced on November 1.
Rising fuel prices in the overseas markets is being viewed as the main reason for rapidly increasing ATF prices. An increase in rates for Mumbai has also been announced. Jet fuel prices at the country's busiest airport will surge by Rs. 988 to Rs. 41,710 per kilo-liter.
All three state owned oil firms, IOC, Bharat Petroleum and Hindustan Petroleum, have confirmed the rise in ATF rates. The second consecutive hike in the same month has come after three consecutive fortnights of reductions. As the Rupee strengthened during the past few months, prices at all major airports of India had substantially come down. But the current hike has taken ATF prices above the levels recorded for September, as international markets slowly find their firm grounds again.
ATF prices at the country's other two important airports, Chennai and Kolkata, also rose by Rs. 1,001 and Rs. 1,033, respectively. New ATF price for Kolkata is Rs. 48, 861, while Chennai currently stands at Rs. 44,526.
