ATF: Jet fuel prices were increased by 3.22 percent to an all-time high on Sunday, reflecting a surge in global energy prices. This is the ninth straight increase this year.
According to a price notification from state-owned fuel retailers, the price of aviation turbine fuel (ATF) — the fuel that helps planes fly — was raised by 3,649.13 per kilolitre, or 3.22 percent, to 1,16,851.46 per kl (116.8 per litre) in the national capital.
Meanwhile, after rising by a record ten cents per litre, gasoline and diesel prices remained unchanged for the 25th consecutive day. While jet fuel prices are adjusted twice a month on the 1st and 16th, gasoline and diesel prices are adjusted daily based on equivalent international market rates.
The price of ATF has risen after the steepest ever hike of 18.3 percent (17,135.63 per kl) on March 16 and a 2 percent (2,258.54 per kl) increase on April 1. On April 16, prices were raised by a smidgeon of 0.2 percent.
ATF is now priced
It is now priced at 1,15,617.24 per kilogramme in Mumbai, 1,21,430.48 in Kolkata, and 1,20,728.03 in Chennai.
Rates vary by state, depending on the amount of local taxation imposed.
Fuel prices have risen in India as a result of global supply concerns following Russia’s invasion of Ukraine and resurgent demand following the pandemic. India relies on imports for 85 percent of its oil needs.
Jet fuel, which accounts for nearly 40% of an airline’s operating costs, has reached new highs this year. Since the beginning of 2022, ATF prices have risen every two weeks. ATF prices have risen by a total of 42,829.55 per kl (42.8 per liter) since January 1, a total of more than 50%.