India's state-owned oil firms raise jet fuel prices by more than 4%
India's state-owned oil firms raised jet fuel prices by 4% on 15-Feb-2011, marking the ninth consecutive increase since Oct-2010 (PTI, 15-Feb-2011). Aviation Turbine Fuel (ATF) rates in Delhi have been raised by 4.1% to INR53,538 (USD1179)/kilolitre according to the Indian Oil Corporation. The increase, the second largest over the past 12 months, follows a 4.5% increase on 01-Feb-2011. Jet fuel will increase 4.3% also to INR53,538 (USD1179)/kl. Fuel cost accounts for around 40% of Indian airlines’ operating cost. Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum revise jet fuel prices on the 1st and 16th of every month, based on the average international price in the preceding fortnight.