Aviation turbine fuel price hiked by 7.5 per cent, non-subsidised LPG by Rs 10.50
The price of non-subsidised LPG was hiked to Rs 626.50 per 14.2-kg cylinder in Delhi from Rs 616 till yesterday.
Prices were hiked to Rs 53353.92 per kiloliter in Delhi, the busiest airport in the country. Oil companies revise aviation turbine fuel (ATF) price on the 1st of every month.
Jet fuel expenses account for over 40% of an airline’s operating costs and is costlier in India than the rest of the world, thanks to a slew of taxes levied by state governments on its purchase and transport.
Following a global trend of price cuts in crude, price of the fuel in India has fallen by 35% since Janaury.
The hike however is unlikely to lead to an increase in prices, sid an airline executive adding in a price-sensitive market such as India, it is impossible for prices to always follow cost revisions.