Aviation Fuel Prices More Than Double, Will Air Fares Rise?
New Delhi: Citing supply disruptions caused by the crisis in West Asia, oil marketing companies have hiked the price of aviation fuel by over 100 percent, effective Wednesday.The steep hike in price of aviation fuel has given rise to the speculation that the airlines would hike domestic and international air fares to meet the rising costs.
According to information received from the country's largest oil marketing company, Indian Oil Corporation, the price of aviation fuel in Delhi has risen to Rs 2,07,341 per kilolitre as of today, April 1. In March, the price stood at Rs 96,638. Thus, an increase of Rs 110,703—or 115 percent—has been implemented.
Similarly, in Kolkata, aviation fuel has become 107 percent more expensive starting today, reaching Rs 2,05,955 per kilolitre. In Mumbai and Chennai, prices have surged by 116 percent and 114 percent, respectively, reaching 194,969 and 214,598 per kilolitre.