New Delhi: After two successive cuts, state -owned oil firms today hiked jet fuel or ATF prices by 2.4 per cent in step with the firming international rates.
Oil companies hiked aviation turbine fuel (ATF) prices by Rs 1,377 per kilolitre (kl), or 2.4 per cent, to Rs 57,843 per kl in Delhi with effect from midnight tonight, an official of Indian Oil Corp, the nation's largest fuel retailer, said.
The hike comes after two reductions on May 16 and June 1. In these two cuts, the first in over eight months, ATF prices had come down by Rs 4,094 per kl.
Rate cuts on May 16 and June 1 had come after 14 successive hikes since October, 2010, when international crude oil prices started soaring.
15/06/11 Economic Times
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