Days after diesel rates were hiked by a steep Rs 5.63 per litre, Jet Fuel price was on Saturday raised by about 2 per cent to Rs. 73,711 per kilolitre.
Friday’s increase in aviation turbine fuel (ATF), or jet fuel, price comes on the back of the biggest ever hike in rates effected from first of this month.
ATF at T3 terminal in Delhi has been hiked by Rs 1,429 per kilolitre (kl), or 1.97 per cent, to Rs 73,711 per kl with effect from Saturday midnight, according to Indian Oil Corporation (IOC), the nation’s largest fuel retailer.
The government had on Thursday announced the first hike in diesel rates in more than 14—months, raising rates by Rs 5.63 per litre to Rs 46.95.
Saturday’s ATF price hike and September 1’s massive 7.6 per cent (Rs 5,156.16 per kl) increase were triggered by firming international oil rates and dip in rupee value against the US dollar.
The price hike is the fifth straight increase in rates since July.
The three fuel retailers — IOC, Hindustan Petroleum and Bharat Petroleum — revise jet fuel prices on the 1st and 16th of every month, based on the average international price in the preceding fortnight.