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There was shocking news for air travelers on Thursday. Actually, the price of Jet Fuel or Air Turbine Fuel (ATF) has once again been increased strongly. Its prices have been increased by 16.3 percent. Significantly, this is the biggest increase since March 2022. With this, the price of jet fuel has reached a new record level.
According to the report, the price of air fuel has increased by up to 91 percent in the last six months. After this new change, the price of ATF in the capital Delhi has reached a record level of Rs 1.41 lakh per kiloliter. Let us inform that on March 16 this year, the highest increase of 18.3 percent was done in ATF. Then on April 1 too, the prices rose by two per cent. Apart from this, there was an increase of 0.2 percent on April 16 and 3.22 percent on May 1.
Let us inform here that after ten consecutive increases, the prices of aircraft fuel were cut by a marginal 1.3 per cent on June 1. But, now again its price is on fire and it is expected that air travel may become more expensive in the coming days. Significantly, the expenditure on ATF accounts for a large part of the aircraft operation, which is close to 40 percent. In such a situation, due to increase in it, the possibility of increase in passenger fare also increases.
Soon after the steep hike in ATF prices, Ajay Singh, CMD, SpiceJet said that the sharp rise in jet fuel prices and depreciation of rupee has left domestic airlines with no option but to increase fares immediately and we believe that There is an urgent need to increase fares by at least 10 to 15 per cent to ensure that the cost of operation remains decent.