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Jet fuel price was hiked by a steep 8.1 per cent on Friday to its costliest level this year as international oil prices rose, state-owned oil firms said.
The price of Aviation Turbine Fuel (ATF) was hiked by ₹4,734.15 per kilolitre, or 8.15 per cent, to ₹62,795.12 per kl in the national capital, according to price notification issued by state-owned oil firms. This is the first increase in prices in four-months which has pushed rates to their highest level this year.
ATF or jet fuel prices are revised on the 1st of every month based on the average international rate for benchmark fuel and foreign exchange rate in the preceding month. Prices were unchanged at the last revision on February 1.
The two consecutive price reduction had brought ATF rates to their lowest levels in a year and had provided much-needed relief to cash-strapped airlines. But the latest round of price hike would put pressure on margins of airlines.
ATF, however, continues to be cheaper than both petrol and diesel in most parts of the country and is less expensive than even non-PDS kerosene.
A litre of petrol, used in motorcycles and cars, costs ₹71.81 in Delhi as compared to ₹62,795.12 per kl or ₹62.79 per litre price for ATF. A litre of diesel, which is mostly used as fuel in trucks and buses, comes for ₹67.12.
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