IOC hikes aviation turbine fuel prices

 | February 01,2011 11:08 am IST

State-owned Indian Oil Corporation (IOC) Monday raised aviation turbine fuel (ATF) prices by 4.5 percent, which now stands at Rs.

50,958.79 per kilolitre in Delhi.


This is the eighth straight ATF rate hike since October 2010, when international oil prices took an upward swing.


Crude oil prices, which were $79 a barrel during June, soared to a two-year high of about $90 a barrel last Tuesday, before settling at $88.5 per barrel.


State-owned oil retailers IOC, Hindustan Petroleum Corporation Ltd and Bharat Petroleum Corporation Ltd revise ATF prices based on the average international prices on the first and 16th of every month.


ATF prices were last hiked Jan 15, when state-owned oil marketing companies raised prices by two percent, taking the prices to Rs.48,764 per kilolitre.