Jet fuel price hiked by 3.22%, touches all-time high
The aviation turbine fuel prices are revised every month on the 1st and 16th.
FollowThe aviation turbine fuel (ATF) prices were hiked on Sunday by 3.22 per cent, the ninth time this year. The price rise reflects the increase in global energy rates.
The aviation turbine fuel rate was hiked by Rs 3,649.13 per kilolitre or 3,22 per cent, to Rs 1,16,851.46 per kilolitre, Rs 116.8 per litre in Delhi, as per the price notification of state-owned fuel retailers.
The rates of petrol and diesel meanwhile have remained unchanged by a record rise of Rs 10 per litre. The jet fuel prices are revised every month on the 1st and 16th, and petrol and diesel rates are revised daily at equivalent rates in the international market.
The ATF price hike comes on the back of the steepest ever hike of 18.3 per cent or Rs 17,135.63 per kl effected on March 16 and a 2 per cent hike on April 1 or Rs 2,258.54 per kl. On April 16, the prices were hiked by a margin of 0.2 per cent.
In Mumbai, the ATF now stands at Rs 1,15,617.24 per kl, it cost Rs 1,21,430.48 in Kolkata and in Chennai, Rs 1,20,728.03.
The price of the ATF differs from state to state, which depends on the incidence of local taxation.
In India, the fuel rates have increased due to the price rise of energy globally on the back of supply corners due to Russia's invasion of Ukraine and following the demands after being hit by COVID-19. India depends on 85 per cent of imports to meet its oil needs.
Jet fuel, which accounts for nearly 40 per cent of an airline's operating costs, has reached new heights this year. The price of ATF has increased two weeks since the beginning of 2022. In the nine rallies that began on January 1, the cost of ATF has risen by Rs 42,829.55 per/kl or Rs 42.8/liter or more than 50 per cent.
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