Jet Fuel Price Hike: Govt Calls 8.5% Rise 'Partial, Staggered'

• Government defends 8.5% rise in Aviation Turbine Fuel (ATF) prices as a 'partial and staggered' adjustment to cushion global oil price surge.
• ATF prices for domestic airlines were expected to rise over 100% due to Strait of Hormuz closure, but OMCs limited increase to 8.5%.
• Foreign airlines and non-scheduled operators face a 114.5% increase in ATF rates, reaching a record high of Rs 2.07 lakh per kl.
• Indian airlines like IndiGo, SpiceJet, and Akasa Air welcome the government's intervention, calling it a significant relief.
• Commercial LPG cylinder prices rose 44% due to a surge in Saudi Contract Price; domestic LPG prices remain unchanged and among the lowest globally.