Aviation fuel prices hiked again

New Delhi, June 30 : State-run oil companies Tuesday raised jet fuel prices by over 6 percent, the fourth hike in two months, after crude oil price at the global market reached a seven-month high of USD 72 per barrel.

The aviation fuel would now cost Rs.2,307 more per kilolitre in Delhi at Rs.38,558. In Mumbai, the fuel price will go up from Rs.37,367 per kiloliter to Rs.39,789.

The new rates will be effective from Tuesday midnight.

The three state retailers - Indian Oil Corp, Hindustan Petroleum and Bharat Petroleum - had hiked jet fuel prices 12 percent June 15.

Aviation turbine fuel (ATF) had touched its peak in August last year at Rs.71,028 per kiloliter in Delhi when international crude prices touched a record high of $147 a barrel.

ATF constitutes a major chunk of the airline's operational costs, about 35 percent.

With the fuel now again becoming dearer, airlines will likely increase fares to meet the rising operational expenses, an airline official said.