Aviation turbine fuel prices rise nationwide after prices rise 5.2%
New Delhi:
Prices for jet fuel or aviation turbine fuel (ATF) rose nationally on Wednesday after the rate rose 5.2% in sync with international oil prices.
ATF prices rose Rs 4,481.63/kg or 5.2% to Rs 90,519.79/kl in the national capital, according to price announcements by state-owned fuel retailers.
This is the fourth increase in ATF prices in less than two months after global oil prices spiked but gasoline and diesel prices were flat for the 103rd day in a row, especially noting that council elections taking place in Uttar Pradesh and Punjab.
The current price after rising is also the highest level that ATF has ever reached. This rate is higher than Rs 71,028.26/kl recorded in August 2008 when international crude oil prices hit $147/barrel.
The price hike will put pressure on the already strained balance sheets of airlines that have yet to reopen due to pandemic-related restrictions.
Wednesday’s price hike is the fourth this year. The rate rose Rs 2,039.63/kl or 2.75% to Rs 76,062.04/kl on Jan 1 and then rose again Rs 3,232.87/kl (4.25%) to Rs 79,294.91/ kl on Jan 16. They increased Rs 6,743.25/kl or 8.5% to Rs 86,038.16 on Feb 1.
With four rallies, the ATF price has increased by Rs 16,497.38/kl.
These rate hikes followed two price drops in December that mirrored the slump in international oil prices during the second half of November and mid-December.
After that, the international rate increased, leading to an increase in the price of ATF.
