After international oil prices climbed to multi-year highs, jet fuel costs were hiked by almost 18% – the biggest ever increase – to all-time high levels on Wednesday. Prices soared over the Rs 1-lakh-per-kilolitre threshold for the first time ever as a result of the rise, which was the sixth in a row this year.

According to a price statement by state-owned fuel dealers, aviation turbine fuel (ATF) – the fuel that makes planes fly – was raised by 17,135.63 per kl, or 18.3 percent, to Rs 110,666.29 per kl in the national capital.

Every month on the 1st and 16th, jet fuel prices are adjusted depending on the average international price of benchmark fuel for the previous fortnight.

Fears of supply interruption following Russia’s invasion of Ukraine pushed international oil prices to a 14-year high near USD 140 per barrel last week. Since then, rates have fallen to roughly USD 100 per barrel.
The price of ATF in Mumbai has risen to Rs 109,119.83 per kilograms, while it costs Rs 114,979.70 in Kolkata. Jet fuel is priced at Rs 114,133.73 per kl in Chennai.

In August 2008, when international crude oil prices reached USD 147 per barrel, the previous high of Rs 71,028.26 per kilo was set. Brent crude oil was trading just above USD 100 per barrel on Wednesday.
Since the beginning of 2022, ATF prices have risen every two weeks. ATF prices have jumped by Rs 36,643.88 kl, or nearly 50%, in six increases since January 1.