Jet fuel (ATF) price hiked by 16.3% to hit all-time high in Delhi

Jet fuel, which makes up for almost 40 percent of the running cost of an airline, has this year surged to new highs (Representative Image)

The price of aviation turbine fuel (ATF) -- the fuel that helps airplanes fly -- has been hiked by 16.3 percent to an all-time high of Rs 1.41 lakh per kilolitre in Delhi. ATF price has nearly doubled In 2022, up 91% in the last six months.

Jet fuel prices on June 3 were cut by 1.3 percent -- the first reduction after 10 rounds of price hikes -- on softening international crude oil rates.

Earlier, in May, ATF prices were increased by 5 percent taking it to Rs 1.23 lakh per kilolitre in the national capital.

Jet fuel makes up more than 40 percent of the running cost of an airline and the price hike is expected to affect air travel costs.

The price of jet fuel has been rising since the beginning of this year, moving up from Rs 72,062 per kilolitre in January to Rs 1.41 lakh per kilolitre now.

India's fuel rates have seen a sharp surge in 2022 on the back of supply concerns amid the ongoing Russia-Ukraine war and a rise in demand that came after relaxations in the pandemic-related restrictions.