The aviation turbine fuel (fuel that helps airplanes fly) was increased by Rs. 6,188.25 per kilolitre, to Rs. 1,23,039.71 per kilolitre in the capital. Jet Fuel prices were increased by a straight 5.3 percent on Monday resulting in an all-time high along with a surge in global energy prices.
Although Petrol and Diesel prices remained unchanged even after their last rise happened before the 41st day by Rs. 10 Per Litre.
You may know that Petrol and Diesel prices are revised daily while Jet Fuel prices are revised every 1st and 16th of the month based on equivalent rates in the international market.
Oil Firms owned by the state have given no clearance on why ATF (Aviation Turbine Fuel) prices have been increased while the price of Petrol and Diesel remained indifferent.
Petrol and Diesel are priced at Rs 105.41 per litre and Rs 96.67 per litre respectively.
The ATF prices took a sheer hike on March 16 by 18.3 percent (Rs. 17.135.63 per kl) and a 2 percent increase (Rs 2, 258.54 per kl) on April 1st. Again a marginal increase of 0.2% happened on April 16 followed by a 3.2%(Rs.3,649.13) hike on May 1st.
ATF Prices in different cities like Mumbai, Chennai, and Kolkata costs Rs. 1,21,847.11 per kg, Rs 1,27,286.13, Rs 1,27,854.60, respectively. Rates may differ in cities due to local taxation rates.
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Since India is 85% dependent on the import of oil needs in the country major setbacks whether the sudden demand after a pandemic or Russia’s Invasion of Ukraine has resulted in a massive increase in the fuel prices.
In the 9 hikes beginning on January 1, 2022 ATF prices have been increased by Rs 49,017.8 per kl (Rs 49 per litre) or nearly 55 percent.