High crude oil prices on Wednesday led OMCs to hike aviation turbine fuel (ATF) price by over 18 per cent to more than Rs 1 lakh per kilolitre, the steepest hike ever. Accordingly, in the national capital, the price of jet fuel was raised by 18.32 per cent to Rs 1,10,666.29 per kilolitre (kl) from Rs 93,530.66 per kl.
In the other metro cities of Kolkata, Mumbai and Chennai, the price was increased to Rs 114,979.70, Rs 109,119.83 and Rs 114,133.73 per kiloliter, respectively. The current hike in ATF prices is due to high crude oil cost which has been rising due to geo-political tensions between Russia and Ukraine, said Bhanu Patni, Senior Analyst, India Ratings and Research. We have seen ATF prices rise by over 40 per cent since the start of 2022, Patni added.