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ATF price hiked by over 2.7%

<p style="text-align:justify"><span style="color:#696969"><span style="font-size:11px"><span style="font-family:arial">Jet fuel or ATF prices were today hiked by over 2.7 per cent, the second increase in rates in one month. Aviation Turbine Fuel, or ATF, price at Delhi was hiked by INR 2,036.59 per kilolitre, or 2.74 per cent, to INR 76,241.33 per kl, according to Bharat Petroleum Corp (BPCL). The increase follows a marginal INR 597.48 per kl or 0.8 per cent hike in rates effected from December 1.</span></span></span></p> <p style="text-align:justify"><span style="color:#696969"><span style="font-size:11px"><span style="font-family:arial">ATF prices had touched a life time high of INR 77,089.42 per kl in October following five consecutive increases since June as rupee depreciated against the US dollar, making oil imports costlier. However, the rupee&rsquo;s appreciating thereafter helped trim cost, leading to a steep 4.5 per cent cut in prices in November. However, rates have been increased in subsequent month as rupee value has dipped marginally.</span></span></span></p> <p style="text-align:justify"><span style="color:#696969"><span style="font-size:11px"><span style="font-family:arial">&nbsp;In Mumbai, jet fuel costs INR 78,783.83 per kl from today as against INR&nbsp;76,658.27 per kl previously, BPCL said. Rates at different airports vary because of difference in local sales tax or VAT. Jet fuel constitutes over 40 per cent of an airline&#39;s operating costs and the price hike will raise the fuel cost of the cash-strapped carriers. No immediate comments were available from the airlines on the impact of the price hike on passenger fares. The three fuel retailers, Indian Oil Corp (IOC), Hindustan Petroleum Corp Ltd (HPCL) and BPCL &nbsp;revise jet fuel prices on the 1st of every month, based on the average international price in the preceding month.</span></span></span></p> <p style="text-align:justify"><span style="color:#696969"><span style="font-size:11px"><span style="font-family:arial">Source-On Request</span></span></span></p>