Jet fuel prices hit a record high on Saturday

Jet fuel prices hit a record high on Saturday

ATF price up slightly, rates at record high

New Delhi:

Kerosene prices rose 0.2% on Saturday – the eighth straight increase this year – to a record high, reflecting a surge in global energy prices.

The price of aviation jet fuel (ATF) – the fuel that helps planes fly – rose by Rs 277.5 per kilolitre, or 0.2 per cent, to Rs 1.13,202.33 per kl (113.2 Rs per litre) in the nation’s capital, according to a price notification from state-owned fuel retailers.

Meanwhile, petrol and diesel prices remained unchanged for the 10th consecutive day after rising by a record Rs 10 per liter each.

While kerosene prices are revised on the 1st and 16th of each month, gasoline and diesel prices are revised daily based on equivalent prices in the international market.

The increase in the price of ATF follows the highest ever increase of 18.3% (Rs 17,135.63 per kl) made on March 16 and a rise of 2% (Rs 2,258.54 by kl) on April 1st.

ATF in Mumbai now costs Rs 111,981.99 per kl, while it is priced at Rs 117,753.60 in Kolkata and Rs 116,933.49 in Chennai.

Fuel prices have increased in India because energy prices worldwide have increased due to supply problems following Russia’s invasion of Ukraine and the return of demand after being hit by the pandemic.

India is 85% dependent on imports to meet its oil needs.

Kerosene, which accounts for nearly 40% of an airline’s operating costs, has reached new heights this year.

ATF prices have been increasing fortnightly since the start of 2022. In eight hikes starting from January 1, ATF prices have been increased by Rs 39,180.42 or almost 50%.

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