Flying to cost more as jet fuel prices jump 18% on crude surge
NEW DELHI: Air fares are set to rise sharply as jet fuel prices jumped 18% on Wednesday, marking the sharpest-ever increase, as the Russia-Ukraine conflict keeps oil on the boil.
Since fuel costs make up about 40% of costs for airlines, costlier fuel will hit their hopes of an early recovery with the resumption of regular international flights later this month and the summer holiday season.
At Rs 114,979 per 1,000 litres (kilolitres or kl), Kolkata would be the costliest airport for the carriers to tank up, followed by Chennai where the fuel cost Rs 114,133 per kl. The price in Delhi was a tad lower at Rs 110,666 per kl, while Mumbai the cheapest at Rs 109,119 per kl after the hike.
