The Govt of India on Tuesday increased the price of Aviation Turbine Fuel (ATF) by up to 8.5 percent. After the hike announced by the govt, the Indian Oil Corporation (IOC) has also announced an increase in the price of its Aviation Turbine Fuel.
After the steep hike of 8.5% on Tuesday, the ATF prices rose to record levels across the country.
How much the Aviation Turbine Fuel is now?
ATF prices in India have been increased by ₹6743/kl and the new prices in Delhi now stand at ₹86308.16/kl. The new prices are applicable from today 01st Feb 2022.
This is the highest ever price touched by ATF. The rate is higher than ₹ 71,028.26 per kl reached in August 2008 when international crude oil prices touched $147 per barrel.
The price hike comes due to a spike in international oil prices.
It is worth mentioning that the jet fuel or Aviation Turbine Fuel (ATF) price has been hiked for the third time in a month, petrol and diesel prices remained unchanged for a record 88th day in a row.
ATF prices were hiked by ₹2,039.63 per kl or 2.75 percent to ₹76,062.04 per kl on January 1 and then again by ₹3,232.87 per kl or 4.25 percent to ₹79,294.91 per kl on January 16.
Effect on flight tickets!
The higher prices of Aviation Turbine Fuel will be going to affect the prices of flights tickets in India and most likely airline companies will pass the buck to the passengers, as a substantial amount of the air ticket prices goes into aviation fuel tax.