Soaring Fuel Prices Would Impact Air Travel
Air Turbine Fuel (ATF) or the jet oil has gone 30 percent higher as compared to January 2021 price.
Air ticket prices depend on the price of ATF and other unavoidable expenses.
With the prices of fuel going up higher on the charts daily, the cost of air travel would be highly impacted making the air tickets costlier than before.
Indian Oil Corporation Limited said that the global oil prices have increased which would certainly affect the cost of air travel.
Air Turbine Fuel (ATF) or the jet fuel is now costing more as the oil prices have gone higher. There is an increase of 30 percent in ATF cost as compared to that of January 2021. In January, the jet fuel was priced at around 51,000 per KL. Now it is priced at around 68,000 plus per KL.
The aviation experts say that the cost of air tickets depends on the cost of ATF and other unavoidable charges. If ATF goes up the charts, it results in hike in air fare.