Oil companies hiked the price of aviation turbine fuel (ATF) or jet fuel with effect from Saturday. That marked the sixth straight increase in the price of aviation turbine fuel since June. In Delhi, the price of jet fuel was increased by Rs 1,304.25 - or 3.06 per cent - to Rs 43,932.53 per kilolitre, compared to the existing Rs 42,628.28 per kilolitre, according to Indian Oil Corporation. Aviation turbine fuel rates are revised on the 1st and 16th day each month to bring them at par with international crude oil prices and forex rates in the preceding fortnight.
Here are Indian Oil's jet fuel prices with effect from August 1, 2020:
|Location||Price For Domestic Airlines (In Rupees Per Kilolitre)||Price For Domestic Airlines On International Run (In Dollars Per Kilolitre)|
|(Source: Indian Oil Corporation)|
Jet fuel prices were earlier raised by a record 56.6 per cent - or Rs 12,126.75 - on June 1, followed by a hike of 16.3 per cent (Rs 5,494.5) on June 16, 7.48 per cent (Rs 2,922.94) on July 1, and 1.5 per cent (Rs 635.47) on July 16.
Meanwhile, India's crude oil imports fell in June to their lowest level since February 2015, government data showed on Friday. Brent crude futures - the global benchmark for crude oil - ended 0.62 per cent higher at $43.52 per barrel on Friday.
Earlier that day, the rupee settled nearly unchanged at 74.81 against the dollar.