Aviation turbine fuel prices rose across the country after rates were hiked by 5.2 per cent
New Delhi:
Jet fuel or aviation turbine fuel (ATF) prices rose across the country on Wednesday after rates were hiked by 5.2 per cent in sync with international oil price.
ATF price was hiked by Rs 4,481.63 per kilolitre or 5.2 per cent to Rs 90,519.79 per kl in the national capital, according to a price notification of state-owned fuel retailers.
This is the fourth hike in ATF prices in less than two months following a spike in global oil prices but petrol and diesel prices remained unchanged for a record 103rd day in a row, especially keeping in mind the fact that assembly elections are taking place in Uttar Pradesh and Punjab.
The current prices after the hike are also the highest ever touched by ATF. The rate is higher than Rs 71,028.26 per kl which were recorded in in August 2008 when international crude oil prices touched $147 per barrel.
The increase in price will put pressure on the already strained balance sheets of airlines that are yet to resume full operations due to pandemic-related restrictions.
Wednesday’s price increase is the fourth hike this year. Rates were hiked by Rs 2,039.63 per kl or 2.75 per cent to Rs 76,062.04 per kl on January 1 and then again by Rs 3,232.87 per kl (4.25 per cent) to Rs 79,294.91 per kl on January 16. They went up by Rs 6,743.25 per kl or 8.5 per cent to Rs 86,038.16 on February 1.
With four hikes, ATF prices have gone up by Rs 16,497.38 per kl.
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.
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