Flyers beware! Airfares set to soar, ATF price hiked by over 7 pct to 4-year high

From petrol, diesel, LPG and now aviation turbine fuel (ATF) , fuel prices are being raised with no let up time and again by oil companies. Yes, there were minuscule cuts in fuel rates, by a few paise, but the overall trend is upwards. In fact, a couple of days of small cuts in petrol diesel prices have been followed up with this massive hike in aviation fuel. The effect is going to be massive, especially on those who wish to fly to the destination of their choice. It is likely that the airlines, who are already struggling under huge fuel costs, will have to raise rates soon. The first one off the blocks was indiGo, which raised prices citing pricey ATF and that was days before today's hike by oil companies!  The hike has shot up ATF prices to the highest level since May, 2014.
 
Now, jet fuel rate has hit a four-year high. According to oil companies, it is  reflecting trends in the international oil market. ATF price was raised by Rs 4,688 per kilolitre, or 7.17 per cent, to Rs 70,028 per kl in Delhi, oil companies had announced. This rate hike comes close in wake of an earlier one. This is in fact the second straight increase in jet fuel rates within last 2 months. ATF rate was increased by Rs 3,890 per kl (6.3 per cent) to Rs 61,450 per kl on May 1. 

IndiGo had announced that it will be imposing a  sum of Rs 200 to Rs 400 as a fuel surcharge on passengers' tickets on all domestic trips starting  midnight on May 29, 2018. Rates of ATF, as well as of LPG and kerosene are revised on 1st of every month. The rate hike depends on on the calculated average international rate and rupee-US dollar exchange rate in the preceding month.