Online edition of India's National Newspaper
Tuesday, May 02, 2006
Online edition of India's National Newspaper Tuesday, May 02, 2006 |
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Special Correspondent
NEW DELHI: Public sector oil companies on Monday raised the prices of aviation turbine fuel (ATF) yet again, this time by over 8.6 per cent, paving the way for yet another round of possible increase in airfares. "ATF prices have been raised between Rs. 3,100 and Rs. 3,700 a kilolitre with effect from Monday,'' said an Indian Oil Corporation (IOC) official. On April 1, the oil marketing companies had hiked the price of ATF, or jet fuel, by Rs. 831-1,015 a kilolitre. The present price increase for domestic carriers was inclusive of excise duty and local sales tax, as applicable. For international airlines, however, the increase in price would be only about $54-58 a kilolitre as they do not have to pay the domestic levies. Among all petroleum fuel products, ATF is the sole transport fuel whose prices the public sector oil companies are at liberty to adjust in line with increases or decreases in global oil prices.
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