Jet fuel prices in India touch new record after 16% hike
The Hindu
The price of aviation turbine fuel (ATF) has been increased by ₹19,757.13 per kilolitre (16.26%) to ₹1,41,232.87 per kl (₹141.2 per litre) in Delhi
Jet fuel prices on Thursday were hiked by the steepest ever 16% to catapult rates to an all-time high in step with hardening international oil rates.
The price of aviation turbine fuel (ATF) — the fuel that helps aeroplanes fly — has been increased by ₹19,757.13 per kilolitre, or 16.26%, to ₹1,41,232.87 per kl (₹141.2 per litre) in the national capital, according to a price notification of state-owned fuel retailers.
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The hike, which comes on the back of a marginal 1.3% (₹1,563.97 per kl) cut in rate earlier this month, takes jet fuel prices to record high across the country.
The increase is in step with firming international oil rates. Brent — the world's most popular crude oil benchmark — was on Thursday trading at $119.16 per barrel; the highest in almost a decade.
ATF prices are revised on the 1st and 16th of every month based on the average of benchmark international rates.
The increase in jet fuel price will raise the operating cost for airlines. ATF makes up to 40% of an airline's operating cost.
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