JET fuel or ATF price on Sunday was hiked by 4.2 per cent - the second increase in rates this month warranted by firming international oil prices, but petrol and diesel prices remained unchanged for the 72nd day in a row. Aviation Turbine Fuel (ATF) price was hiked by Rs 3,232.87 per kilolitre, or 4.25 per cent, to Rs 79,294.91 per kl in the national capital, according to a price notification of state-owned fuel retailers. This is the second increase in rates this month. Rates were hiked by Rs 2,039.63 per kl, or 2.75 per cent, to Rs 76,062.04 per kl on January 1. These increases in rates came on the back of two rounds of price cuts seen in December that reflected a drop in international oil prices during the second half of November and mid-December.

 

Thereafter, international rates have firmed up, leading to the hike in ATF prices. ATF price had peaked to Rs 80,835.04 per kl in mid-November before it was cut on December 1 and 15 by a total of Rs 6,812.25 per kl or 8.4 per cent. Jet fuel prices are revised on the 1st and 16th of every month, based on the average price of the international benchmark in the preceding fortnight. Unlike ATF, petrol and diesel rates are revised daily after taking the average price in the preceding fortnight. But prices have remained unchanged since November 4, 2021, when the Central Government had cut Excise Duty on petrol by Rs 5 per litre and that on diesel by Rs 10 a litre.