Jet Fuel Prices Soar All-Time High After a Hike by 16.3 Per cent
- The price surged by Rs 19,757.13 per kilolitre.
- A marginal cut by 13 per cent was recorded last month.
- Steepest hike in ATF recorded.
New Delhi: Jet fuel prices today recorded a never-before hike. The airline industry witnessed the steepest hike so far as the state-owned fuel retailers surged the price by 16 per cent.
The price of Air Turbine fuel is increased by Rs 19,757.13 per kilolitre, or 16.26 per cent, to Rs 1,41,232.87 per kl (Rs 141.2 per litre) in the national capital, according to a price notification of state-owned fuel retailers.
The hike, which comes on the back of a marginal 1.3 per cent (Rs 1,563.97 per kl) cut in rate earlier this month, takes jet fuel prices to record high across the country.
ATF prices are revised on the 1st and 16th of every month based on the average benchmark international rates.
ATF in Mumbai now costs Rs 1,40,092.74 per kl, while it is priced at Rs 1,46,322.23 in Kolkata and Rs 1,46,215.85 in Chennai. Rates differ from state to state, depending on the incidence of local taxation. Fuel prices in India skyrocketed in 2022, owing to supply concerns amid the ongoing Russia-Ukraine conflict and an increase in demand following the lifting of pandemic-related restrictions.