Aviation stocks trade lower after jet fuel prices rise starting from January 01

3 Jan 2022 , 02:29 PM

Aviation stocks were under pressure on Monday after jet fuel or aviation turbine fuel (ATF) prices were hiked by 2.75% on firming international oil prices.

At around 2.21 pm, SpiceJet was trading at Rs67.60 per piece down by 0.7% on Sensex. The stock has touched an intraday high and low of Rs67.95 per piece and Rs65.80 per piece respectively.

Interglobe Aviation (Indigo) at the same time traded at Rs2007.65 per piece down by 0.4% on Sensex. The stock has touched an intraday high and low of Rs2007.65 per piece and Rs1936.10 per piece respectively.

Starting from January 01, 2022, in rupees, the ATF prices per KL was at Rs76,062.04 in Delhi, at Rs80,310.13 in Kolkata, at Rs74,515.58 in Mumbai and Rs78,359.97 in Chennai.

The price in the national capital was hiked by Rs2,039.63 or 2.75%.

In dollar terms, the new ATF is valued at $756.23 per KL in Delhi, at $795.26 in Kolkata, at $749.40 in Mumbai and $750.14 in Chennai.

The price increase comes after reducing prices for two rounds in December on the back decline in international crude oil prices from the second half of November to mid-December last year.

Jet fuel is a colourless, combustible, straight-run petroleum distillate liquid.