Indian Oil Corporation (IOC) has said that its Aviation Turbine Fuel (ATF) price before taxes is lower than the price of imported aviation fuel. The state-run oil company said airlines, which have claimed that oil companies have been overcharging for the aviation fuel, have the option of negotiating long-term contract prices or meeting their requirements through imports. IOC was responding to a letter sent by the promoters of GoAir, Indigo, Jet Airways, and SpiceJet earlier this week to ATF suppliers including BPCL and HPCL, protesting a 12 per cent increase in ATF prices effective from the beginning of March. The airlines, in their letter, refused to pay the revised price and sought a Rs.2,500-crore refund from the oil marketing companies for not passing on the benefit of falling crude oil prices.
01/04/16 The Hindu
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01/04/16 The Hindu
