New Delhi, April 1 -- Public sector oil marketing companies (OMCs) have implemented an increase of 25 per cent in Aviation Turbine Fuel (ATF) prices for domestic airlines, translating to an increase of about Rs 15 per litre.
The decision comes amid expectations of a sharp spike of over 100 per cent in ATF prices from April 1, following disruptions linked to the closure of the Strait of Hormuz, a critical global energy transit route.
The Ministry of Petroleum and Natural Gas on Wednesday said Aviation Turbine Fuel (ATF) prices in India, which are deregulated and revised monthly based on international benchmarks, were expected to surge by over 100 per cent from April 1 due to the closure of the Strait of Hormuz and volatility in global ener...