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India to cap monthly domestic aviation fuel price increase

India to cap monthly domestic aviation fuel price increase

Webdunia 2 weeks ago
India will cap monthly increases in aviation turbine fuel prices ‌for domestic flights at 25%, the government said in a statement on Thursday.On Wednesday, the Indian government had stepped in to limit the impact of record-high jet fuel prices on airlines and air fares as Indian public sector oil companies have more than doubled the price of aviation turbine fuel.
Prices in New Delhi have reached Rs 207,341.22 ($2,212 or €1,911) per kiloliter, Indian media reported, while the price of jet fuel for international flights has risen by 107%.Indian oil companies determine the market price of aviation fuel and announce the revised rate on the first day of every month.The hike is due in part to the disrupted fuel supply chain in the Middle East, and partly due to the Indian rupee's worst performance in 14 years.
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