Aviation Turbine Fuel Prices Hiked By 5.3 Per Cent To Record High; 10th Increase This Year

The price of ATF was hiked by Rs 6,188.25 per kilolitre (5.29 per cent), to Rs 1,23,039.71 per kl (Rs 123 per litre) in Delhi

Fuel rates have been increased in India because energy prices globally have risen on the back of supply concerns. Image: Getty ( Image Source :Getty )

New Delhi: Aviation turbine fuel (ATF) prices were hiked by a steep 5.3 per cent, to an all-time high, on Monday, the PTI reported.

This is 10^th straight hike in jet fuel this year in line with a surge in global energy prices.

According to a price notification by state-owned fuel retailers, the price of ATF was hiked by Rs 6,188.25 per kilolitre (5.29 per cent), to Rs 1,23,039.71 per kl (Rs 123 per litre) in Delhi.

However, petrol and diesel prices remained unchanged for the 41st straight day after rising by a record Rs 10 per litre each.

According to the report, on the 1st and 16th of every month ATF prices see revision, while petrol and diesel rates are revised daily, based on equivalent rates in the global energy market.

The rise in ATF rates comes on the back of the steepest ever hike of 18.3 per cent (Rs 17,135.63 per kl) effected on March 16 and a 2 per cent (Rs 2,258.54 per kl) increase on April 1.

Prices were increased by a marginal 0.2 per cent on April 16, followed by a Rs 3,649.13 per kl (3.2 per cent) hike on May 1.

Now, ATF in Mumbai costs Rs 1,21,847.11 per kl, while it is priced at Rs 1,27,854.60 in Kolkata and Rs 1,27,286.13 in Chennai. Rates of jet fuel may 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-Ukraine war and demand returning after being hit by the pandemic. India is 85 per cent dependent on imports to meet its oil needs.

To compound things, the rupee has depreciated against the US dollar, making imports costlier. It closed at an all-time low of 77.55 to a US dollar on Friday.

On the other hand, petrol and diesel prices were hiked by Rs 10 a litre between March 22 and April 6 and have remained on freeze thereafter. State-run oil marketing companies (OMCs) have offered no reason for keeping petrol and diesel prices on freeze while raising ATF rates.

In Delhi, petrol costs Rs 105.41 a litre and diesel is priced at Rs 96.67 per litre.