Delhi hikes jet fuel price by 3.2%

Jet fuel or aviation turbine fuel (ATF) price was hiked on Thursday by over 3.2 per cent, according to the Indian Oil Corporation (IOC). Jet fuel constitutes over 40 per cent of an airline’s operating costs and the price hike will put fresh burden on the cash-strapped airlines. The third such rate hike since July, it comes after the steep 4.5 per cent increase in rates made on August 1, offsetting the reduction in prices effected in May and June. ATF price in Delhi was hiked by Rs2,130.17 per kilolitre (kl), or 3.27 per cent, to Rs67,135.76 per kl. According to IOC, jet fuel in Mumbai will cost Rs.68,103.26 per kl from on Thursday. From:Gulftoday