Jet fuel prices were raised by 0.2 percent to an all-time high on Saturday, mirroring a jump in global energy prices. This is the seventh straight increase this year.
According to a price notification from state-owned fuel dealers, the price of aviation turbine fuel (ATF) was raised by Rs.277.5 per kilolitre, or 0.2 percent, to Rs.1,13,202.33 per kl (Rs.113.2 per litre) in the national capital. Meanwhile, after climbing by a record Rs.10 per litre each, petrol and diesel prices remained steady for the tenth day in a row.
While jet fuel prices are adjusted twice a month on the 1st and 16th, petrol and diesel prices are adjusted daily depending on corresponding international market pricing. The increase in ATF price follows the greatest ever hike of 18.3 percent (Rs.17,135.63 per litre) on March 16 and a 2% increase (Rs.2,258.54 per kl) on April 1. ATF costs Rs.111,981.99 per kilogramme in Mumbai, whereas it costs Rs.117,753.60 in Kolkata and Rs.116.933.49 in Chennai.
Fuel prices have risen in India as a result of global supply concerns following Russia's invasion of Ukraine and resurgent demand following the pandemic. India relies on imports for 85 percent of its oil needs. Jet fuel, which accounts for over 40% of an airline's operating costs, has reached fresh highs this year. Since the beginning of 2022, ATF prices have risen every two weeks. ATF prices have risen by Rs.39,180.42, or over 50%, over the course of eight rises since January 1.
Big relief again today regarding petrol and diesel prices
Union Minister Puri made this big statement on rising prices of petrol and diesel
