India’s state-run oil companies like Indian Oil Corporation Limited (IOCL), Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL), have hiked Aviation Turbine Fuel (ATF) prices, by over 1.7 per cent. While the ATF rates in Delhi have been raised by Rs 688 to Rs 40,192 per kilolitre, the price of ATF rates in Mumbai has been raised by Rs 717 to Rs 41,469 per kilolitre.
Jet fuel constitutes roughly 40 per cent of the operating cost of an airline and the 3 state-run oil firms revise jet fuel prices on the first and the 16th of every month, based on the average global oil price in the previous fortnight.
