Aviation Fuel Prices Hiked For Third Straight Month
Oil marketing companies increased the aviation turbine fuel prices for October, the third straight monthly hike as crude prices remain near two-year high.
The aviation fuel is now 5.4 to 6 percent costlier compared to September across New Delhi, Mumbai, Kolkata and Chennai, according to prices updated by state-run oil refiner and marketer Indian Oil Corporation Ltd. on its website. The hike is expected to impact airlines’ revenue in the quarter ending December as fuel costs eat up about a third of their sales.
Brent Crude is trading at $57.54 a barrel after hitting $59 last month, the highest since July 2015, according to Bloomberg data.
Here are the latest ATF prices per kilolitre:
- Delhi: Rs 53,045 (up 6 percent over September)
- Mumbai: Rs 52,318 (up 5.9 percent)
- Chennai: Rs 55,770 (up 5.7 percent)
- Kolkata: Rs 57,337 (up 5.4 percent)