Air travel is now expected to become more expensive. State-owned oil companies have decided to hike aviation fuel prices again today. ATF prices have risen by 5 per cent. Following the hike, jet fuel prices have reached record highs. In 2022, aviation fuel prices have risen 10 times.
An increase of 5 per centRising global crude oil prices have also affected jet fuel prices. State-owned oil companies have hiked ATF prices by 5 per cent in the national capital. The price of ATF in the national capital has reached Rs 123,039.71 per kiloliter, or Rs 123 per liter.
Review of prices after 15 daysState-owned oil companies review jet fuel prices on the 1st and 16th of each month. Since January 1 this year, aviation fuel has become nearly 62 per cent more expensive.
How much does it cost in Kolkata and Mumbai?The price of ATF in Mumbai is now Rs 121,847.11 per kiloliter. It is Rs 127,854.60 in Kolkata and Rs 127,286 per kiloliter in Chennai.
Expensive crude oil has led to a sharp rise in aviation fuel prices in the last four months. The country's aviation industry may have to bear the brunt. Airlines are raising fares due to high cost of aviation fuel, which is affecting the number of passengers traveling by air. Rating agency ICRA said in a report that rising ATF prices could affect the country's aviation industry.