ATF price hiked by 3.3%; fifth increase this year

New Delhi: Jet fuel prices on Tuesday were increased by 3.3 per cent to all-time high levels across the country, in step with international oil prices surging to over a seven-year-high.

This is the fifth hike in jet fuel or Aviation Turbine Fuel (ATF) prices this year following an unrelenting rise in global oil prices, but petrol and diesel prices remained unchanged for a record 116th day in a row, coinciding with electioneering to elect new governments in states like Uttar Pradesh and Punjab.

ATF price was hiked by Rs 3,010.87 per kilolitre or 3.22 per cent to Rs 93,530.66 per kl in the national capital, according to a price notification of state-owned fuel retailers.

Jet fuel, which makes up for almost 40 per cent of the running cost of an airline, has this year surged to new highs.

The previous peak of Rs 71,028.26 per kl was recorded in August 2008 when international crude oil prices touched $147 per barrel. Brent crude oil on Tuesday was trading above $100 per barrel.

ATF prices have increased every fortnight since the start of 2022.

In five hikes beginning January 1, ATF prices have been increased by Rs 19,508.25 per kl or 26.35 per cent.

These hikes in the rate came on the back of two rounds of price cuts seen in December that reflected a drop in international oil prices during the second half of November and mid-December. Thereafter, international rates have firmed up, leading to the hike in ATF prices.

ATF prices had last peaked at Rs 80,835.04 per kl in mid-November 2021 before it was cut on December 1 and 15 by a total of Rs 6,812.25 per kl or 8.4 per cent.