As for state-sponsored oil marketing companies (OMCs), the price of aviation turbine fuel (ATF) in Delhi has been increased by 5 per cent to Rs 1,23,039.71 per kl. ATF costs Rs 1,21,847.11 per kg in Mumbai, Rs 1,27,854.60 in Kolkata and Rs 1,27,286.13 in Chennai. The revised rate will be effective from 16 May (Monday).
Earlier, jet fuel prices rose 3.22 percent on May 1, following a rise in global energy prices. Following this increase, ATF is priced at Rs 1,16,851.46 per kg in Delhi, Rs 1,15,617.24 in Mumbai, Rs 1,21,430.48 in Kolkata and Rs 1,20,728.03 in Chennai.
The rate was increased to 18.3 per cent on March 16 and 2 per cent on April 1 April 16 Prices also rose 0.2 percent In the nine increments since January 1, the price of ATF has risen by Rs 72.062 per kl to Rs 1.23 lakh per kl.
Jet fuel accounts for 40 percent of an airline’s running costs. Since the beginning of 2022, the price of ATF has increased by per fortnight Fuel prices in India have risen due to rising global energy prices due to the Russian invasion of Ukraine and the demand affected by the epidemic. India is 85 per cent dependent on imports to meet its oil demand.
Global oil prices today
Oil prices fell on Monday as investors feared global supply after gains in the previous session and as the European Union prepares to step up import bans from Russia. Brent crude futures were down 0.6 percent at $ 110.91, while US West Texas Intermediate crude futures were down 0.5 percent at $ 109.89, according to the news agency. Reuters.
(With agency input)
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