Aviation turbine fuel prices hike by 5.2%, highest ever
ATF prices rose across the country after rates were raised by 5.2 per cent in sync with international oil prices.
FollowThe jet fuel or the aviation turbine fuel (ATF) costs rose across the country on Wednesday after rates were hiked by 5.2 per cent in sync with the international oil price.
The aviation turbine fuel price was hiked from Rs 4,481.63 per kilolitre (5.2 per cent) to Rs 90,519.79 per kilolitre in Delhi, as per the price notification of state-owned fuel retailers.
This is the fourth increase in ATF prices in less than two months, following a spike in global oil prices. However, petrol and diesel prices remained unchanged for a record 103rd day in a row, particularly given that Assembly elections are held in Uttar Pradesh and Punjab.
ATF's current prices, following the increase, are recorded the highest ever. The rate is higher than the rate of 71,028.26 per kl recorded in August 2008, when international crude oil prices reached $147 per barrel.
The recorded increase in price would put pressure on the strained balance sheet of many airlines that are yet to resume entire operations due to the Covid-19 pandemic restriction in the country.
In this year, Wednesday's hike is the fourth. Rates were hiked by Rs 2,039.63 per kl (2.75 per cent) to Rs 76,062.04 per kl on January 1. On January 16, the hike was from Rs 3,232.87 per kl (4.25 per cent) to Rs 79,294.91 per kl. Again on February 1, the cost hiked by Rs 6,743.25 per kl (8.5 per cent) to Rs 86,038.16. And now ATF prices have gone up by Rs 16,497.38 per kl.
These rate increases followed two rounds of price cuts in December, which reflected a drop in international oil prices in the second half of November and mid-December.
Following that, international rates have firmed, resulting in an increase in ATF prices.
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