Air travel is undoubtedly a quick and easy way to get about, but the expense of this travel is increasing daily. Travelling by air has become a luxury due to recent advancements in aviation. The price of aviation turbine fuel, or jet fuel, has increased by 1.45%, making air travel more expensive. This update is a part of the monthly revision that was released today.
Fuel Price Increase Making Air Travel Costlier
Delhi, the nation’s capital and home to one of the busiest airports, saw a 1.45% hike in ATF prices, according to state-owned gasoline merchants, as reported by IndiaTV news. The cost has increased to ₹1,318.12 per litre.
Jet fuel prices in Kolkata increased for the second consecutive month to ₹94,551.63 per litre, while those in Mumbai and Chennai increased to ₹85,861.02 and ₹95,231.49 per litre, respectively. There was a rate increase of 3.3% (by ₹2,941.5 per litre) on November 1.
The rates reached their lowest levels this year after two rounds of reduction followed by a hike. This included an ATF price deduction of 4.58% or ₹4,495.5 per litre on September 1 and that of 6.3% (₹5,883 per litre) on October 1.
Who Is Responsible For Revising Fuel Prices?
Every month, Indian Oil Corporations, Bharat Petroleum Corporation Ltd., and other state-owned businesses update ATF pricing by foreign exchange rates and global fuel benchmarks. Passengers taking vacations may be impacted by this possible change in airfare.
While home LPG cylinder prices stay at 14 kg, state-owned companies have increased the price of commercial LPG cylinders, which are used in hotels and restaurants, to 19 kg.
Jet fuel is produced, transported, and stored by Bharat Petroleum (BPCL), the top aviation fuel firm in India. The top oil company in India, Indian Oil (IOC), provides a range of aviation fuels and refuels the Indian Defence Services and VVIP planes. Every month, HPCL, BPCL, and IOC update the ATF pricing. Due to price-conscious customers and competition from other transportation providers, airlines may find it difficult to pass on the increased cost to passengers even if they tack on fuel surcharges to airfare in order to pay fuel costs.
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Because of these revised fuel prices, there is a strong possibility that next time you book flight tickets, they may be costlier.
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