Soaring Jet Fuel Prices Hit Record High Amid Rising Global Tensions
Aviation turbine fuel prices in India more than doubled to over Rs 2 lakh per kilolitre, driven by global oil price increases due to the West Asia conflict. Domestic airlines will be shielded from the price surge through an undefined mechanism. Commercial LPG prices have also risen significantly.
- Country:
- India
The price of aviation turbine fuel (ATF) has soared to an unprecedented rate of Rs 2.07 lakh per kilolitre, reflecting the recent turmoil in West Asia. However, domestic airlines might avoid paying this steep hike as efforts are underway to protect them from the financial burden.
This surge in ATF cost, the second monthly hike, has seen a 114.5% increase, making it the first instance of crossing the Rs 2 lakh threshold, surpassing the previous peak in 2022. This comes as airlines already grapple with increased operational costs due to rerouted flights amid geopolitical tensions.
Alongside, commercial LPG prices have jumped by Rs 195.50 per cylinder, linked to soaring global oil prices. While petrol and diesel costs remain unchanged, the broader energy sector witnesses significant ripples from the conflict-induced disruptions.
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ATF price for domestic airlines hiked by 8.6 pc to Rs 1.04 lakh/kl; doubled to Rs 2.07 lakh/kl for non-scheduled, adhoc and charter carriers.
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ATF rates for non-scheduled, adhoc and chartered carriers more than doubled to Rs 2.07 lakh per kl.
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