Travelling by air can get costlier soon as the price of jet fuel (aviation turbine fuel) has been hiked by 16%, as per the state-owned Oil Corporation. The new rate has come into effect from Thursday, June 16, 2022. This surprise sharp hike in AFT price comes only after the oil market companies slashed ATF prices by 1.3% earlier this month on June 1.  

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With this hike in ATF prices, the jet fuel rate has climbed to record levels and one kg ATF will now cost Rs 141232.87 per kilolitre (Kl), a hike of Rs 19757.13 per kl, in the national capital. Earlier, the same cost Rs 121,475.74 per kilolitre in Delhi. This is a jump of 16.2% on June 1 prices.  

With the revision in ATF prices, one kilolitre ATF will now cost Rs 1,46,322.23 per kl in Kolkata, Rs 140,092.74 per kl in Mumbai and Rs 146,215.85 per kl in Chennai.  

Earlier, the IOC had announced a hike in ATF prices by 5 percent Earlier on May 16.  After the hike, one kilolitre ATF cost Rs 1.23 lakh in Delhi.  

Indian oil Corporation (IOCL), Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation (BPCL), SHELL, Reliance are the major Oil Suppliers to Airlines in India. 

The prices of aviation turbine fuel are raised twice a month—Once on fisrt date and another on 16th day of every month.   

Meanwhile, in a big relief, the Jharkhand government has reduced VAT on ATF to 4% from 20% earlier