The rise in global crude oil prices have led to a sharp rise in the jet fuel prices in India.
The price of aviation turbine fuel (ATF) has jumped 44 percent in last 12 months and almost doubled since February 2016, when it had hit a low.
For instance, the price of ATF as of August 1, 2018 in Delhi is at Rs 69,090 per kiloliter as compared to Rs 48,110 per kiloliter, a year ago.
Though, the rise in ATF prices in India has not yet translated into higher airfares.
Sample this. A Delhi-Mumbai round trip ticket is now available at around Rs 11,000 -13,000 range, almost the same price at which it was available a year ago.
According to faredetective.com, which provides historic airfares data, the average ticket price for a Delhi-Mumbai round trip was around Rs 12,000 during August 2017.
However, industry experts are predicting that rising oil prices will push up the cost of air travel.
24/08/18 Jyotindra Dubey/CNBC TV18
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The price of aviation turbine fuel (ATF) has jumped 44 percent in last 12 months and almost doubled since February 2016, when it had hit a low.
For instance, the price of ATF as of August 1, 2018 in Delhi is at Rs 69,090 per kiloliter as compared to Rs 48,110 per kiloliter, a year ago.
Though, the rise in ATF prices in India has not yet translated into higher airfares.
Sample this. A Delhi-Mumbai round trip ticket is now available at around Rs 11,000 -13,000 range, almost the same price at which it was available a year ago.
According to faredetective.com, which provides historic airfares data, the average ticket price for a Delhi-Mumbai round trip was around Rs 12,000 during August 2017.
However, industry experts are predicting that rising oil prices will push up the cost of air travel.
24/08/18 Jyotindra Dubey/CNBC TV18
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