After busy airports, scores of cancellations and soaring airline fees, there's a huge relief coming for travelers, the prices of air turbine fuel (ATF) have been slashed by 12 per cent to Rs 1.21 lakh per kilolitre.
This is only the second reduction in jet fuel rates this year. Prices had peaked to ₹141,232.87 per kl (₹141.23 per litre) in June. The ATF prices had then nearly doubled in 2022, up 91 percent in the last six months.
Prior to that, the rates were hiked by the steepest ever 16% to catapult rates to an all-time.
Prolonged high air fuel prices
Oil prices have increased tremendously since the onset of the Covid-19 pandemic and were further affected due to the Ukraine-Russia war. Due to the rise in fuel prices, domestic and international airfares in India have witnessed a surge of up to 50 percent in the last few months.