ATF price at all time high
Jet fuel prices in India rose 3.3% in step with international oil prices surging to over 7-yr high
image for illustrative purpose
Flying may cost more
• ATF price up by Rs3,010.87 per kilolitre or 3.22 per cent to Rs 93,530.66 per kl in the national capital
• This is the 5th hike in ATF prices this year following an unrelenting rise in global oil prices
• Petrol and diesel prices remained unchanged for a record 116th day in a row, coinciding with electioneering to elect new govts in States like UP and Punjab
New Delhi: Jet fuel prices on Tuesday were increased by 3.3 per cent to all-time high levels across the country, in step with international oil prices surging to over seven-year-high.
This is the fifth hike in jet fuel or Aviation Turbine Fuel (ATF) prices this year following an unrelenting rise in global oil prices, but petrol and diesel prices remained unchanged for a record 116th day in a row, coinciding with electioneering to elect new governments in states like Uttar Pradesh and Punjab. ATF price was hiked by Rs 3,010.87 per kilolitre or 3.22 per cent to Rs 93,530.66 per kl in the national capital, according to a price notification of state-owned fuel retailers. Jet fuel, which makes up for almost 40 per cent of the running cost of an airline, has this year surged to new highs.
The previous peak of Rs 71,028.26 per kl was recorded in August 2008 when international crude oil prices touched $147 per barrel. Brent crude oil on Tuesday was trading above $100 per barrel. ATF prices have increased every fortnight since the start of 2022. In five hikes beginning January 1, ATF prices have been increased by Rs 19,508.25 per kl or 26.35 per cent. These hikes in the rate came on the back of two rounds of price cuts seen in December that reflected a drop in international oil prices during the second half of November and mid-December. Thereafter, international rates have firmed up, leading to the hike in ATF prices. ATF prices had last peaked at Rs 80,835.04 per kl in mid-November 2021 before it was cut on December 1 and 15 by a total of Rs 6,812.25 per kl or 8.4 per cent.
Jet fuel prices are revised on the 1st and 16th of every month based on the average price of the international benchmark in the preceding fortnight. Unlike ATF, petrol and diesel rates are revised daily after taking the average price in the preceding fortnight.
