Jet Fuel Price: IOC Clarifies 8.5% Hike, Not 115%; Airfares to Rise

• IOC clarifies ATF price hike is 8.5%, not 115%, after initial reports.
• Petroleum Ministry confirms the increase, but Aviation Ministry's request postponed a larger hike for domestic flights.
• Airlines will bear 25% of the increased burden for domestic flights; international flights pay full price.
• ATF for domestic flights in India was already among the most expensive globally, impacting airline operating costs.
• Rising ATF prices will lead to increased airfares, potentially affecting demand and flight operations.