This year, the prices of jet fuel or aviation turbine fuel (ATF) have increased for the fifth time due to the rise in crude oil.
If you are planning to travel somewhere during Summer Vacations , then this news is for you. Actually, due to the rise in the prices of crude oil , air travel in India has become expensive. Due to expensive oil, airline companies have increased the prices of domestic flight tickets .
At the same time, going abroad can be cheaper with the start of international flights. According to data received from online travel agencies, airfares on some major routes in the domestic sector have increased by 15 to 30 per cent in the last two to four weeks.
According to the Indian Express report, online travel agency Ixigo said that the one-way airfare for booking in Delhi-Mumbai sector between February 25 and March 3 was Rs 5,119, compared to Rs 4,055 for booking between February 1 and 7.
26 per cent more than Rs. Similarly, the price of one-way flight tickets on Kolkata-Delhi sector increased by 29 per cent to Rs 6,114 from Rs 4,725. Delhi-Bangalore fare also increased from Rs 4,916 to Rs 6,239.
Crude oil price crosses $110 per barrel
Let us tell you that due to the ongoing war between Russia and Ukraine, the international crude oil prices reached $130 per barrel. However, the news of OPEC and OPEC+ countries increasing crude oil production has softened oil prices.
But still the price of oil is at $ 110 per barrel. On Monday, the price of crude oil in the international market fell by 1.93 percent to $ 110.5 per barrel, while the price of WTI crude fell by 2.45 percent to $ 106.7 per barrel.
Jet fuel price hiked for the fifth time this year
The increase in crude oil has led to the fifth increase in the prices of jet fuel or aviation turbine fuel (ATF) this year. On March 1, 2022, the price of jet fuel in the country increased by 3.3 percent and reached an all-time high.
According to the price notification of public sector oil marketing companies, ATF price in the national capital increased by Rs 3,010.87 per kl or 3.22 per cent to Rs 93,530.66 per kl.
Aircraft fuel accounts for about 40 per cent of the operating cost of an airline. The previous record high of Rs 71,028.26 per kiloliter was recorded in August 2008 when international crude oil prices touched $147 per barrel.
Jet fuel prices are revised on 1st and 16th of every month based on the average price of international benchmarks for the last fortnight.
