New Delhi: Jet fuel prices rose a modest 0.2 per cent on Saturday – the eighth straight rise this year – at an all-time high, reflecting a rise in global energy prices. The price of Aviation Turbine Fuel (ATF) – the fuel that helps airplanes fly – was raised by Rs 277.5 per kl, or 0.2 per cent, to Rs 1,13,202.33 per kl (Rs 113.2 per liter) in the national capital. As per the price notification of the state owned fuel retailers. Meanwhile, petrol and diesel prices remained unchanged for the 10th consecutive day after a record hike of Rs 10 per litre.
While jet fuel prices are revised on 1st and 16th of every month, petrol and diesel rates are revised daily based on similar rates in the international market. The increase in ATF price comes after the sharpest ever increase of 18.3 per cent (Rs 17,135.63 per kl) on March 16 and 2 per cent (Rs 2,258.54 per kl) on April 1. The ATF price in Mumbai is now Rs 111,981.99. per kiloliter, while it costs Rs 117,753.60 in Kolkata and Rs 116.933.49 in Chennai.
Fuel rates in India have been hiked as energy prices soared globally due to supply concerns after Russia’s invasion of Ukraine and coming back after being hit by the pandemic. India is 85 per cent dependent on imports to meet its oil requirements. Jet fuel, which accounts for about 40 per cent of an airline’s operating cost, has hit new highs this year. ATF prices have increased every fortnight since the beginning of 2022. ATF prices have risen by Rs 39,180.42, or nearly 50 per cent, in eight hikes beginning January 1.