Jet fuel or ATF price was today hiked by over 3.2%, the third straight increase since July, adding to the cost burden of cash-strapped airlines.
The price of aviation turbine fuel (ATF), or jet fuel, in Delhi was hiked by Rs 2,130.17 per kilolitre (kl), or 3.27%, to Rs 67,135.76 per kl, according to Indian Oil Corp , the nation's largest oil firm. The rate hike comes on back of a steep 4.5% increase in rates effected from August 1 and has wiped off all of the reduction in prices done in May and June.
In Mumbai, jet fuel will cost Rs 68,103.26 per kl from today as against Rs 65,884.34 per kl previously. Jet fuel constitutes over 40% of an airline's operating costs and the increase in prices will put fresh burden on the cash-strapped airlines.
IOC and two other state-owned fuel retailers had on July 16 raised rates by 1.7% or Rs 1,039.1 per kl and followed it up with a Rs 2,797.41 per kl increase in price on August 1.
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