Jet fuel price goes up

Chennai: The higher jet fuel prices in the international market have resulted in the revise of Aviation Turbine Fuel (ATF) domestic prices in pan-India, that goes upward effective from 1 October. This took place in association with weakening of Indian Rupee as against US Dollar.

A press release from Indian Oil said, “For Mumbai, the increase of about Rs 2650/kl is on account of higher jet fuel prices in the international market and increase of about Rs 2250/kl is on account of weakening of Indian Rupee during the last month and Rs 116/kl is on account of freight etc. The increase in domestic selling prices of ATF (Rs 5016/kl at Mumbai) is therefore purely on account of the above factors.”

“The Government of India has levied 5 per cent customs duty on ATF w.e.f 27 September 2018, which however, is not being passed on to the Airlines,” the release added.

NT Bureau