ATF price up 3.22% to record high
THE RISE IN ATF PRICE COMES ON THE BACK OF THE STEEPEST EVER HIKE OF 18.3% EFFECTED ON MARCH 16
NEW DELHI: Jet fuel prices on Sunday were hiked by 3.22%, the ninth straight increase this year, to an all-time high, reflecting a surge in global energy prices.
The price of aviation turbine fuel (ATF) was hiked by ₹3,649.13 per kilolitre, or 3.22%, to ₹1,16,851.46 per kl (₹116.8 per litre) in the national capital, according to a price notification put out by state-owned fuel retailers.
Meanwhile, the petrol and diesel prices remained unchanged for the 25th straight day after rising by a record ₹10 per litre each.
Jet fuel prices are revised on the 1st and 16th of every month, while the prices of petrol and diesel are revised daily on the basis of equivalent rates in the international market.
The increase in the ATF price comes on the back of the steepest ever hike of 18.3% (₹17,135.63 per kl) effected on March 16 and a 2% (₹2,258.54 per kl) increase on April 1. Prices were increased by a marginal 0.2% on April 16.
ATF in Mumbai now costs ₹1,15,617.24 per kl, while it is priced at ₹1,21,430.48 in Kolkata and ₹1,20,728.03 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 dependent on imports to meet its about 85% oil needs.
Jet fuel, which accounts 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. In the nine hikes beginning January 1, jet fuel prices have been increased by ₹42,829.55 per kl (₹42.8 per litre) or more than 50%.