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ATF Prices Up By 3.2% on Firming International Oil Rates

  • State-owned oil companies on Wednesday hiked jet fuel price by 3.2% on the back of firming up of international oil rates.
  • The price of aviation turbine fuel (ATF), or jet fuel, in Delhi was hiked by Rs 2,039.24 per kilolitre (kl), or 3.25%, to Rs 64,596.36 per kl with effect from midnight tonight, Indian Oil Corp, the nation's largest retailer, said.
  • The hike comes after two rounds of reduction in rates effected from February 1 and 16.In Mumbai, ATF will cost Rs 65,636.74 per kl from tomorrow, as against the current rate of Rs 63,499 per kl.
  • Jet fuel constitutes about 40% of an airline's operating cost and the hike in prices will add to the burden of the cash-strapped airlines. No immediate comment was available from airlines on the impact of the price increase on passenger fares.
  • The three fuel retailers revise jet fuel prices on the 1st and 16th of every month, based on the average international price in the preceding fortnight.

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