Jet fuel price hiked by 2% to all-time high; One kilolitre to now cost Rs 1,12,924.83

Jet fuel prices on Friday were hiked by 2 per cent - the seventh straight increase this year - to an all-time high, reflecting a surge in global energy prices.

Aviation turbine fuel (ATF) - the fuel that helps aeroplanes fly - was hiked by Rs 2,258.54 per kilolitre, or 2 per cent, to Rs 1,12,924.83 per kl in the national capital, according to a price notification by state-owned fuel retailers.

There was, however, no change in the price of petrol and diesel on Friday. Prior to the second pause in 11 days, auto fuel rates had gone up by Rs 6.40 per litre.

The increase in ATF price comes on back of the steepest ever hike 18.3 per cent (Rs 17,135.63 per kl) effected on March 16.

Jet fuel prices are revised on the 1st and 16th of every month based on the average international price of benchmark fuel in the preceding fortnight.

Jet fuel, which makes up for almost 40 per cent of the running cost of an airline, has this year surged to new highs.

ATF prices have increased every fortnight since the start of 2022. In seven hikes beginning January 1, ATF prices have been increased by Rs 38,902.92 kl or almost 50 per cent.