India's state-owned refiners raised domestic jet fuel prices by 2.7pc from yesterday, following a rare reduction in mid-July.
Prices were raised by 1,078 rupees kl ($23.36/kl) to around Rs41,177/kl in Delhi, reflecting the rise in international oil prices. State-owned oil firms IOC, Hindustan Petroleum and Bharat Petroleum revise jet fuel prices on the first and 16th of every month, based on crude oil price movements of the previous two weeks.
Except for on 16 July and 1 June when jet fuel prices were cut by 3pc and 7pc respectively, Indian refiners have raised prices non-stop since the second-half of February when jet fuel was priced around Rs37,982/kl.
The price revisions affect only Indian airlines, as jet fuel sold to international carriers is directly pegged to published benchmarks that are often lower than domestic prices. This has contributed to the thin margins and often heavy debts that most Indian airlines currently face, despite passenger traffic in India rising by double-digit figures every month since the start of the year.
Prices were raised by 1,078 rupees kl ($23.36/kl) to around Rs41,177/kl in Delhi, reflecting the rise in international oil prices. State-owned oil firms IOC, Hindustan Petroleum and Bharat Petroleum revise jet fuel prices on the first and 16th of every month, based on crude oil price movements of the previous two weeks.
Except for on 16 July and 1 June when jet fuel prices were cut by 3pc and 7pc respectively, Indian refiners have raised prices non-stop since the second-half of February when jet fuel was priced around Rs37,982/kl.
The price revisions affect only Indian airlines, as jet fuel sold to international carriers is directly pegged to published benchmarks that are often lower than domestic prices. This has contributed to the thin margins and often heavy debts that most Indian airlines currently face, despite passenger traffic in India rising by double-digit figures every month since the start of the year.
