The price of aviation turbine fuel (ATF) — the fuel that helps aeroplanes fly — was hiked by 5 per cent, to ₹123,039.71 per kl ( ₹123.03 per litre) in the national capital, according to a price notification of state-owned fuel retailers. Jet fuel, which makes up for almost 40% of the running cost of an airline, has this year surged to new highs. ATF prices have increased every fortnight since the start of 2022.
Meanwhile, petrol and diesel prices remained unchanged for the 40th straight day after rising by a record ₹10 per litre each. While jet fuel prices are revised on the 1st and 16th of every month, petrol and diesel rates are revised daily based on equivalent rates in the international market.
The increase in ATF price comes on the back of the steepest ever hike of 18.3 per cent ( ₹17,135.63 per kl) effected on March 16 and a 2 per cent ( ₹2,258.54 per kl) increase on April 1. Prices were increased by a marginal 0.2 per cent on April 16 and by by 3.22% to record high on 1 May
ATF in Mumbai now costs ₹121,847.11per kl, while it is priced at ₹127,854.60 in Kolkata and ₹127,286.13 in Chennai.
Rates differ from state to state, depending on the incidence of local taxation.
Fuel rates have been increased in India because energy prices globally have risen on the back of supply concerns following Russia’s invasion of Ukraine and demand returning after being hit by the pandemic. India is 85 per cent dependent on imports to meet its oil needs.
In the nine hikes beginning January 1, ATF prices have been increased by ₹42,829.55 per kl ( ₹42.8 per litre) or over 50 per cent.
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