Year 2013 has seen record-breaking hike of Aviation Turbine Fuel (ATF). The last scaled hike was seen in August 2008 of Rs. 71,028.26 per kl. According to PTI reports, this year the fuel price has increased four times already. The depreciation of the value of Indian Rupee is also seen as a major reason behind the hike. With a sharp fall of rupee over the US dollar, the import of crude oil has become costlier.
Indian Oil Corp, India’s leading fuel retailer has confirmed ATF price hike at Delhi by 4,827.94 per kl, or 6.87 per cent, to Rs 75,031.09 per kl. Mumbai ATF price hike from Rs 72,477.50 per kl to Rs 77,632.43 per kl. It is to be noted that rates at different airports vary due to difference in local sales tax and VAT.
In 2013, a prominent hike trend had been noticed. From July 1 to August 1, ATF price increased by Rs 3,617.84 per kl or 5.8 per cent on July and by another Rs 4,169.4 per kl, or 6.3 per cent, on August 1. According to reports, these prices hiked after the sudden price increase in the month of June as well. These hikes followed two abrupt reductions in rates by 5.5 per cent (Rs 3884.98 per kl) on April 1 and 5.3 per cent or Rs 3,545.94 per kl from May 1.It is also to be noticed that ATF price in March managed to touch Rs 70,080.87 per kl in Delhi.