ADVERTISEMENT
Jet fuel price hiked 4%The increase follows three rounds of reduction since November
PTI
Last Updated IST
Representative Image. Credit: Reuters Photo
Representative Image. Credit: Reuters Photo

Jet fuel (ATF) price on Wednesday was hiked by 4 per cent in line with firming international oil prices but petrol and diesel rates remained on freeze for a record 10th month in running.

Aviation turbine fuel (ATF) price was increased by Rs 4,218 per kilolitre, or 3.9 per cent, to Rs 1,12,356.77 per kl in the national capital, according to a price notification of state-owned fuel retailers.

The increase follows three rounds of reduction since November. The price on January 1 was reduced to Rs 1,08,138.77 per kl from Rs 1,17,587.64. Prior to that, the price was slashed by 2.3 per cent on December 1 and 4.19 per cent on November 1.

ADVERTISEMENT

The rate hike will increase the burden on airlines for whom fuel makes for almost 40 per cent of the operating cost.

ATF price is revised on the 1st of every month based on the average rate of international benchmark and foreign exchange rates.

Petrol and diesel prices, however, continued to remain on freeze for a record tenth month in a row. Petrol costs Rs 96.72 per litre in the national capital and diesel comes for Rs 89.62.

State-owned fuel retailers are supposed to revise petrol and diesel prices daily based on a 15-day rolling average of benchmark international fuel prices but they haven't done that since April 6, 2022.

Prices were last changed on May 22 when the government cut excise duty to give relief to consumers from a spike in retail rates that followed a surge in international oil prices.

Also, the price of commercial LPG, whose rate too is revised on the 1st of every month, remained unchanged on Wednesday.

A 19-kg commercial LPG cylinder, which is used by hotels, restaurants and other business establishments, continues to cost Rs 1,769 in the national capital.

Rate of LPG used in household kitchens remained unchanged at Rs 1,053 per 14.2-kg cylinder.

Rates differ from state to state depending on the incidence of local taxes.

ADVERTISEMENT
(Published 01 February 2023, 11:36 IST)