The government has announced a massive increase in the price of jet fuel, raising concerns about a possible rise in airfares in the coming weeks. The price of aviation fuel has been increased by Rs 153.44 per liter, pushing it from Rs 188.93 to Rs 342.37 per liter. The decision marks one of the steepest increases in recent years.
According to reports, the new price applies to GP-1 fuel, the type of aviation fuel commonly used by commercial aircraft. The jump represents an increase of nearly 82%, a move that has surprised industry experts and aviation analysts.
Experts say the sudden hike will significantly raise operational costs for airlines, as fuel is one of the largest expenses in aviation.
With fuel costs already forming a major part of airline budgets, such a sharp increase could place heavy financial pressure on carriers.
