With a sharp rise of 5.29 per cent in aviation fuel prices again, air travel is expected to become more expensive. Oil companies today announced an increase in aviation fuel prices by Rs 6188.25 per liter.
Aviation fuel prices rose 5.3 per cent to an all-time high. Sources said that aviation fuel has become more expensive at home due to global price hike. This is the tenth increase in aviation fuel in the current year.
Following the price hike of 6188.25 per kg, the new price is now 1,23,039.71.
However, VAT rates vary from state to state. The previous record high was 18.3 per cent in March, followed by 2 per cent in early April. Aviation fuel prices were also hiked on April 16 and May 1. However, a slight reduction was made on June 1.
Airlines are expected to increase fares in the coming days due to rising fuel prices. Airlines operators recently announced that the current air fares are unaffordable and the burden of the new fare hike will have to be borne by air travelers.
