ATF price hike tonight, will air fares rise?

March 15, 2012 18:28

Just in: State-owned oil firms to hike jet fuel (ATF) price by 2 per cent with effect from midnight tonight. This is the third time it's been hiked since November. But for a one-off marginal reduction in mid-October, ATF prices have been on the climb since September. IOC and other state retailers, Hindustan Petroleum and Bharat Petroleum, had on October 1 and September 16 and raised jet fuel prices by 2.5 per cent and 1.5 per cent respectively, as imports became costlier due to fall in rupee against the U.S. dollar. Jet fuel makes up for 40 per cent of an airlines' operating cost and the steep hike in prices will raise burden on the cash-strapped airlines.

No immediate comment was available from airlines on the impact of the price hike on passenger fares.

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