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Despite the reduction in fuel costs,  this may not translate into lower airfares due to the robust demand in the aviation sector

State-run oil companies slash Jet Fuel prices, easing operational costs for domestic carriers

Despite the reduction in fuel costs,&nbsp; this may not translate into lower airfares due to the robust demand in the aviation sector

State-run oil marketing companies have slashed the prices of aviation turbine fuel (ATF), commonly known as jet fuel, by ₹1,074 per kilolitre, effective from November 1, 2023. This reduction brings the cost of jet fuel down to ₹1.11 lk/kL in New Delhi, providing a sigh of relief for domestic airlines.
The revised prices for ATF in other major cities are as follows: ₹1.04 lk/kL in Mumbai, ₹1,19 lk/kL in Kolkata, and ₹1.15 lk/kL in Chennai. For domestic&nbsp; carriers operating on international routes, the prices stand at $1,026.96 per kilolitre in New Delhi, $1,025.49 per kilolitre in Mumbai, $1,065.6 per kilolitre in Kolkata, and $1,022.71 per kilolitre in Chennai.
This price cut comes after a series of increases in ATF rates over the past three months. Despite the reduction in fuel costs, industry analysts have noted that this may not translate into lower airfares due to the robust demand in the aviation sector.
The move is expected to provide some relief to airlines, which have been grappling with rising operational costs. As the industry navigates challenges, this reduction in jet fuel prices could positively impact the overall operational expenses for airlines, offering a glimmer of hope amid ongoing economic uncertainties. Also Watch:<a href="https://www.editorji.com/business-news/festive-season-airfares-set-to-soar-as-oil-marketing-companies-hike-jet-fuel-prices-1693551032918"> Festive season airfares set to soar as oil marketing companies hike jet fuel prices</a>

ATF prices at Dec 2022 peak, OMCs hike jet fuel 14% in Delhi. Air travel costs may rise, up 24% in 2 months

Festive season airfares set to soar as oil marketing companies hike jet fuel prices

ATF prices at Dec 2022 peak, OMCs hike jet fuel 14% in Delhi. Air travel costs may rise, up 24% in 2 months

The prices of Aviation Turbine Fuel (ATF), commonly known as jet fuel, have soared to their highest point since December 2022. Oil marketing companies (OMCs) on Friday implemented a substantial 14% increase in jet fuel prices, pushing them to ₹1.12 lakh per kiloliter in Delhi.
This decision is anticipated to have a cascading effect on air travel costs, potentially making flights more expensive, particularly during the upcoming festive season. This latest surge marks a significant 24% rise over just the past two months.
According to a price notification issued by state-owned fuel retailers, the ATF price as of September 1st has shot up to ₹20,295.2 per kiloliter, crossing the notable ₹1.12 lakh mark. Specifically, the cost of aviation fuel in Delhi has now surged to ₹1,12,419.33 per kiloliter.
This upward revision in jet fuel rates by oil companies constitutes the third consecutive increase in recent times. In August, the ATF price witnessed an aggressive 8.5% hike, with the cost soaring by ₹7,728.38 per kiloliter to reach ₹98,508.26 per kl in the national capital. Furthermore, a 1.65% increase was observed in July, translating to ₹1,476.79 per kl.
The surge in global crude oil prices has been a key factor influencing the rise in jet fuel prices worldwide, prompting the OMCs to make corresponding adjustments to ATF rates. Notably, state-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) have been revising ATF prices on the first day of each month. These revisions are based on the average international price recorded in the preceding month.
While the hike in jet fuel prices has raised concerns over potential flight ticket cost increases, it is worth mentioning that oil companies have recently taken measures to reduce the prices of both domestic and commercial LPG gas cylinders.
The central government implemented a ₹200 reduction in the price of domestic LPG cylinders as a gesture on the occasion of Raksha Bandhan. In tandem with this, OMCs have lowered the price of 19 kg commercial LPG gas cylinders by ₹158, setting the new price at ₹1,522.
Also Watch: <a href="https://www.editorji.com/business-news/jalan-kalrock-deposits-another-100-crore-for-jet-airways-revival-1693541057263">Jalan Kalrock Deposits Another ₹100 Crore For Jet Airways Revival</a>

Aviation Turbine Fuel price has dropped from 98,349.95/kL to 95,935.34/kL in Delhi, given the global decline in oil prices

Delhi's jet fuel costs have decreased to 95,935/kL

Aviation Turbine Fuel price has dropped from 98,349.95/kL to 95,935.34/kL in Delhi, given the global decline in oil prices

Aviation Turbine Fuel has seen a price drop in Delhi from 98,349.95/kL to 95,935.34/kL, giving the airline sector much-needed relief.
Every month on the first, the ATF price is updated depending on the average of global benchmark and foreign exchange rates.
Prior to that, on March 1, the price of jet fuel (ATF) was dropped by 4% in response to a decline in global oil prices, but the price of petrol and diesel remained unchanged for a record-breaking eleventh consecutive month.
On January 1, the cost was down from $1,17,587.64 to $1,08,138.77 per kilo. Prior to that, on December 1 and November 1, respectively, the price was reduced by 2.3% and 4.19%, respectively.
However, following a pan-India revision on May 21 of last year, fuel prices in major cities remained unchanged on Sunday.

Get ready to pay even more for your flight tickets this summer vacation!
The price of aviation turbine fuel (ATF) has been spiked by 16.3 percent to an all-time high of Rs 1.41 lakh per kilolitre in Delhi, CNBC TV-18 reported on June 16.
ATF price has nearly doubled In 2022, up 91 percent in the last six months.
Jet fuel prices on June 3 were cut by 1.3 percent, its first reduction after 10 rounds of price hikes.

Costly flight tickets, ATF prices see steep hike to record high

The price of aviation turbine fuel (ATF) has been spiked by 16.3 percent to an all-time high of Rs 1.41 lakh per kilolitre in Delhi, CNBC TV-18 reported on June 16.

Costlier flights this summer vacation, ATF prices doubled in 2022

ATF price has nearly doubled In 2022, up 91 percent in the last six months.

Airline tickets are set to increase by 10 to 15 percent due to a hit by jet fuel prices and a depreciating rupee.
"Sharp increase in jet fuel prices &amp; depreciation of Rupee have left domestic airlines with little choice but to immediately raise fares&amp;we believe that a min 10-15% increase in fares is required to ensure that cost of ops are better sustained," Ajay Singh, CMD of SpiceJet said on Thursday.&nbsp;
The price of aviation turbine fuel (ATF) has been spiked by 16.3 percent to an all-time high of Rs 1.41 lakh per kilolitre in Delhi, CNBC TV-18 reported on June 16.
ATF price has nearly doubled In 2022, up 91 percent in the last six months.
Rupee has depreciated 500 basis points against the US Dollar this year.
Jet fuel prices on June 3 were cut by 1.3 percent, its first reduction after 10 rounds of price hikes.

Jet fuel prices were hiked by 3.22% -- the ninth straight increase this year -- to an all-time high, reflecting a surge in global energy prices.
The price of aviation turbine fuel (ATF) -- the fuel that helps aeroplanes fly -- was hiked by Rs 3,649.13 per kilolitre, or 3.22 per cent, to Rs 1,16,851.46 per kl (Rs 116.8 per litre) in the national capital, according to a price notification of state-owned fuel retailers.
Meanwhile, petrol and diesel prices remained unchanged for the 25th straight day after rising by a record Rs 10 per litre each. While jet fuel prices are revised on the 1st and 16th of every month, petrol and diesel rates are revised daily based on equivalent rates in the international market. The increase in ATF price comes on the back of the steepest ever hike of 18.3 per cent (Rs 17,135.63 per kl) effected on March 16 and a 2 per cent (Rs 2,258.54 per kl) increase on April 1. Prices were increased by a marginal 0.2 per cent on April 16.
ATF in Mumbai now costs Rs 1,15,617.24 per kl, while it is priced at Rs 1,21,430.48 in Kolkata and Rs 1,20,728.03 in Chennai.
Rates differ from State to State, depending on the incidence of local taxation.
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 the nine hikes beginning January 1, ATF prices have been increased by Rs 42,829.55 per kl (Rs 42.8 per litre) or over 50 per cent.

Get ready to a lot more for your flights, here is why 

The price of aviation turbine fuel (ATF) -- the fuel that helps aeroplanes fly -- was hiked by Rs 3,649.13 per kilolitre, this amounts to 3.2% hike but comes on the back of the steepest ever 18% hike in March. Jet fuel now at a record high makes up of over 40% of the cost of an airline nad is up over 50% in the last 4 months. 

Get ready to pay a lot more for your flights, here is why 

Your summer plans may face turbulence as air fares are taking off before you do . COst of fuel for airlines was hiked for ninth straight time this year as global energy prices continue to rise.&nbsp;The price of aviation turbine fuel (ATF) -- the fuel that helps aeroplanes fly -- was hiked by Rs 3,649.13 per kilolitre, this amounts to 3.2% hike but comes on the back of the steepest ever 18% hike in March. Jet fuel now at a record high makes up of over 40% of the cost of an airline nad is up over 50% in the last 4 months.&nbsp;

Jet fuel sees ninth straight increase this year

Jet fuel prices were hiked by 3.22% -- the ninth straight increase this year -- to an all-time high, reflecting a surge in global energy prices.
The price of aviation turbine fuel (ATF) -- the fuel that helps aeroplanes fly -- was hiked by Rs 3,649.13 per kilolitre, or 3.22 per cent, to Rs 1,16,851.46 per kl (Rs 116.8 per litre) in the national capital, according to a price notification of state-owned fuel retailers.
Meanwhile, petrol and diesel prices remained unchanged for the 25th straight day after rising by a record Rs 10 per litre each. While jet fuel prices are revised on the 1st and 16th of every month, petrol and diesel rates are revised daily based on equivalent rates in the international market.
Also read/watch|&nbsp;<a title="Markets take a knock as tech tumbles, warns of worse ahead" href="https://www.editorji.com/business-news/markets-take-a-knock-as-tech-tumbles-warns-of-worse-ahead-1651464476475">Markets take a knock as tech tumbles, warns of worse ahead</a> &nbsp; The increase in ATF price comes on the back of the steepest ever hike of 18.3 per cent (Rs 17,135.63 per kl) effected on March 16 and a 2 per cent (Rs 2,258.54 per kl) increase on April 1. Prices were increased by a marginal 0.2 per cent on April 16.
ATF in Mumbai now costs Rs 1,15,617.24 per kl, while it is priced at Rs 1,21,430.48 in Kolkata and Rs 1,20,728.03 in Chennai.
Rates differ from State to State, depending on the incidence of local taxation.
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 the nine hikes beginning January 1, ATF prices have been increased by Rs 42,829.55 per kl (Rs 42.8 per litre) or over 50 per cent.
&nbsp;

Fuel costs for airlines are soaring to record high and so will airfares. Jet fuel prices were hiked by an unprecedented 18% on Wednesday which translates to airlines having to pay Rs 1 lakh per kilolitre for fuel. Jet fuel constitutes over 45% of operating costs and is now at a record high after rising 50% since just January. Airlines are likely to knock at the FM's door to bring ATF under the GST regime to get some relief on the taxes and duties as crude prices continue to hover around the $100 mark.Even as ATF prices have risen by 50% this year, retail fuel prices for petrol and diesel have remained unchanged for a record of 150 days. 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.

ATF price hike, record high fuel prices for Airlines 

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.

Air ticket prices to soar, Fuel for aircraft hiked again to record high 

Aviation Turbine Fuel prices now up over 50% since January

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. Jet fuel constitutes over 45% of operating costs and is now at a record high after rising 50% since just January. Airlines are likely to knock at the FM's door to bring ATF&nbsp;under the GST&nbsp;regime to get some relief on the taxes and duties as crude prices continue to hover around the $100 mark. 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.

atf

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