Jet fuel price was hiked Friday by a steep 8.1 per cent to its costliest level this year as international oil prices rose, state-owned oil firms said. The price of Aviation Turbine Fuel (ATF) was hiked by Rs 4,734.15 per kilolitre, or 8.15 per cent, to Rs 62,795.12 per kl in the national capital, according to price notification issued by state-owned oil firms. This is the first increase in prices in four-months which has pushed rates to their highest level this year.
ATF or jet fuel prices are revised on 1st of every month based on the average international rate for benchmark fuel and foreign exchange rate in the preceding month. Prices were unchanged at the last revision on February 1. Prior to that, rates were cut by a record 14.7 per cent (Rs 9,990 per kl) on January 1 and by 10.9 per cent (Rs 8,327.83 per kl) on December 1.
