Airfare Price Hike: Effect of crude oil fire, ATF prices increased, air travel will cost less in the festive season

Airfare Price Hike: Even before the beginning of the festive season, inflation has hit the common people hard. During festivals, a large number of people travel by air to visit their family members. But, traveling by air during this festival will cost them a lot. Oil Marketing Companies (OMC) has given a big shock to the common people. companies have Aviation turbine fuel (ATF) That means the price of air fuel has been increased. From today, the ATF price in the capital Delhi will be Rs 1,18,199.17 per kilo liter. There has been a huge increase in the prices of ATF in Delhi by the companies by about Rs 5500 per kilo liter i.e. 5.50 percent. Earlier in September, the price of ATF in Delhi was Rs 1.12 lakh per liter. The increase in the prices of airplane fuel has been taken after the continuous increase in crude oil. However, this is going to have a direct impact on airlines and airfares. It is understood that after this, the fares of all the aircraft may increase by about 5 to 10 percent. Information has been given by the companies that the increased prices have come into effect from October 1, 2023.

ATF prices in metro cities

Kolkata- Rs 1,26,697.08 per kiloliter

Mumbai- Rs 1,10,592.31 per kilolitre

Chennai- Rs 1,22,423.92 per kilolitre

Dussehra-Diwali booking will be affected

Fares are going to be directly affected by the increase in air fuel prices. Which is going to have a direct impact on the bookings to be made in October-November. Dussehra is in the month of October. Whereas, Diwali and Chhath Puja are going to happen in the month of November. On Chhath Puja, the number of air passengers increases in Jharkhand including Bihar and Uttar Pradesh. However, fares have directly increased due to increase in the price of air fuel. Travel agency operator Soni Mehta says that people who had earlier planned to come home for Dussehra, Diwali and Chhath Puja, have booked tickets till now. But, those who were left will have to travel with increased fares. Air fares have increased by about 10 percent from yesterday till today. However, a slight increase in fares has been seen on some routes. Earlier in the month of September also, an increase in the prices of air fuel was seen. Since July till now, the price of crude oil has seen a tremendous increase of 30 percent and in September alone the price has seen a tremendous increase of 15 percent. In such a situation, its impact on air fuel and fares was already certain.

PNG and CNG prices also increased

By issuing a notification of the Central Government on September 30, the revised prices of domestic natural gas will be applicable from October 1 to October 31. According to the notification issued, the Central Government on Saturday increased the prices of domestic natural gas from $ 8.60 per metric million British thermal unit (MMBTU) to $ 9.20 per MMBTU. Ministry of Petroleum and Natural Gas. The new rates will be applicable from Sunday, October 1. The revised prices will be applicable between October 1 and October 31. The Center has increased the prices of domestic natural gas for the second consecutive month. In September, the price per MMBtu was increased from $7.85 to $8.60. This price revision is expected to impact consumers, as gas distribution companies may increase the prices of compressed natural gas (CNG) and piped natural gas (PNG). The big thing is that the prices of domestic natural gas have increased for the second consecutive month.

What factors affect the price of air fuel in India?

The price of aviation fuel in India is determined by the government and other industrial organizations. The market price of oil and its products in India is determined by various petroleum companies and their distributors, and is changed as per government directives and policies. Apart from this, the price also depends on these things.

international market situation: The price of basic oil may change due to demand and supply of oil and its products around the world.

Government policies and currency values: The government can impose various taxes and duties on oil products, which have a direct impact on the prices.

production and supply: May depend on the situation of production and supply of oil products in international markets.

international eventsFor example, prices may change due to conflicts or treaties between different nations.

Inflation: Due to high inflation rate, prices of oil products may increase.

currency conversion rates: If the Indian Rupee competes with foreign currencies, it can have a direct impact on oil prices.

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