Monday, March 01, 2021

Jet fuel prices up by steep 6.5%

New Delhi: Jet fuel prices on Monday were hiked by a steep 6.5 per cent on the back of a rally in international oil prices.

Aviation turbine fuel or ATF price was hiked by Rs 3,663 per kilolitre, or 6.5 per cent, to Rs 59,400.91 per kl in the national capital, according to a price notification of state-owned fuel retailers.

This is the third increase in jet fuel prices since February. Rates were increased by 3.6 per cent on February 16, and by Rs 3,246.75 per kl on February 1.

The increase in rates will add to the margin woes of airlines who continue to operate flights at less than capacity, amid pandemic-driven travel restrictions.

Brent crude oil prices on Monday rose to USD 65.49 per barrel - the highest in more than a year - on optimism in the global economy and on hopes for improving oil demand as vaccines are being rolled out.

01/03/21 PTI/Business Standard

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