Air travel to get costlier as jet fuel rates rise 7.3%

NEW DELHI: Jet fuel rates have risen by up to 7.3%, which will likely make flying costlier. State oil companies have raised rates of jet fuel by 7.3% for domestic airlines, and 5% for international airlines from Monday.

ATF prices are up by Rs 5,100 per kilo litre for domestic and $37 for international airlines. Companies revise prices of jet fuel at the beginning of every month after factoring in changes in oil prices and exchange rate.

A combination of rising crude oil, falling rupee and heavy taxes also pushed up rates of petrol and diesel by 24 paise and 32 paise a litre respectively on Monday.

Petrol was sold for Rs 91.08 a litre and diesel Rs 79.72 in Mumbai on Monday. In Delhi, petrol was Rs 83.73 and diesel at Rs 75.09. Crude oil topped $83 a barrel on Monday.

The exchange rate fell to 72.91rupees a dollar. Falling oil exports from Iran ahead of the US sanction that becomes effective from November 4 is pushing up oil prices as traders are worried that supply cut due to sanctions may be hard to make up by other producers.