PSU oil firms hike jet fuel price
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PSU oil firms hike jet fuel price

PSU oil firms have hiked aviation turbine fuel, also known as jet fuel, prices by over 8.6 per cent.

india Updated: May 01, 2006 15:48 IST

For the second consecutive month, public sector oil firms on Monday hiked aviation turbine fuel, also known as jet fuel, prices by over 8.6 per cent.

"ATF prices have been raised between Rs 3,100 and Rs 3,700 per kilolitre with effect from today," an official of Indian Oil Corporation (IOC) said.

Prices have been raised in line with the surge in international oil prices, he said.

The hike, for the domestic airlines was inclusive of excise duty and sales tax.

For international airlines, which do not pay local levies, the hike would be between $54-58 per kl.

On April 1, the oil firms had raised ATF price by Rs 831 to Rs 1,015 per kl.

ATF is the only transport fuel, whose prices public sector oil firms have been able to adjust in line with the global oil prices. The Government has not allowed oil companies to adjust prices of petrol, diesel, domestic LPG and kerosene since September 2005.

The official said non-revision of retail prices of petroleum products was expected to lead to under-recoveries of Rs 57,000 crore by oil marketing companies - IOC, Bharat Petroleum Corp and Hindustan Petroleum Corp in 2006-07. The three together lost Rs 4,722 crore in revenues in April.

In the year 2005-06, their gross under-recoveries amounted to Rs 39,600 crore.

Petrol in Delhi is being sold at a loss of Rs 5.66 per litre, diesel at Rs 7.64 per litre, kerosene at Rs 14.29 a litre and domestic LPG at a loss of Rs 195.10 per cylinder, he said.

First Published: May 01, 2006 15:48 IST