The recently announced steep increase of around 7 per cent in jet fuel prices have pushed the rates to a high of more than Rs 75,000 per kilolitre, which means passengers will soon be made to fork out more for air tickets.

As per figures released by state-owned Indian Oil Corp (IOC), Aviation Turbine Fuel (ATF) price at Delhi was increased by 6.87 per cent or Rs 4,827.94 per kilolitre to Rs 75,031.09 per kilolitre. The increase took effect from 1st of September.

At Mumbai, ATF now costs Rs 77632.43 per kilolitre as against Rs 72,477.50 per kilolitre in August. Rates vary due to difference in different states' local sales tax or VAT.

Since, June ATF prices have been increased by more than 20 per cent.

On July 1, ATF price was hiked by 5.8 per cent or Rs 3,617.84 per kilolitre. A month later, on August 1, the price of the fuel was hiked again by 6.3 per cent or Rs 4,169.4 per kilolitre.

IOC blamed the steep fall in the value of rupee against the US dollar over the past few months for situation. Around a week back, the domestic currency slipped to its record low of more than 68 per US dollar. It may be noted here that India meets most of its fuel demand via imports. Any decline in the vale of rupee makes imports costlier.