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Jet fuel price was on Sunday hiked by a steep 8.2% while the rates of non-subsidised LPG was increased by Rs 5 per cylinder on firming international oil rates. The price of aviation turbine fuel (ATF), or jet fuel, in Delhi was hiked by Rs 3,849.97 per kilolitre, or 8.2%, to Rs 50,363 per kl, oil companies announced today.
Updated : Mar 19, 2018, 06:28 AM IST
Jet fuel price was on Sunday hiked by a steep 8.2% while the rates of non-subsidised LPG was increased by Rs 5 per cylinder on firming international oil rates. The price of aviation turbine fuel (ATF), or jet fuel, in Delhi was hiked by Rs 3,849.97 per kilolitre, or 8.2%, to Rs 50,363 per kl, oil companies announced today.
The rate hike follows seven consecutive monthly cuts since August, the last being by 11.27% (Rs 5,909.9 per kl) from February 1. Prior to today's increase, ATF price had been cut by Rs 23,648.73 or 33% in seven reductions since August 2014. Even after today's hike, jet fuel rates are lowest since February 2011.
Jet fuel constitutes over 40% of an airline's operating costs and the price increase will raise the financial burden of cash-strapped carriers. No immediate comment was available from airlines on the impact of the price hike on passenger fares.
Simultaneously, the oil firms also hiked the price of non-subsidised or market-priced domestic cooking gas (LPG) by Rs 5 to Rs 610 per 14.2-kg cylinder in Delhi.
The increase comes on back of seven straight reductions in rates of non-subsidised or market-priced LPG since August. The customers buy non-subsidised after exhausting their quota of 12 cylinders at subsidised rates.
A subsidised LPG refill currently costs Rs 417 in Delhi.The price of non-subsidised LPG was last cut on February 1 by Rs 103.5 per 14.2-kg cylinder. In the seven monthly reductions, non-domestic LPG rates had been slashed by Rs 317.50 per cylinder, bringing the price to a three-year low.
State-owned fuel retailers, Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) revise jet fuel and non-subsidised LPG prices on the first of every month based on average imported cost and rupee-dollar exchange rate.
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