India allows airlines lock fuel prices up to 3 years
The Indian government just rolled out a new plan letting airlines lock in aviation fuel prices for up to three years.
Since fuel costs make up a big chunk of what you pay for flights (about 40% to 60%), this move is all about keeping ticket prices from jumping around every time global oil prices change.
Airlines that join the scheme will pay ₹115 per liter for fuel, while those sticking with market-linked prices will pay around ₹142 per liter.
Union Cabinet approved ₹10,000-cr price stabilization
Here's how it breaks down: the base rate is set at ₹86.32 per liter, but after taxes and charges, it comes to ₹115 in Delhi and ₹139 in Chennai.
To help oil companies handle times when global prices are high, the Union Cabinet approved a ₹10,000-crore price stabilization framework that offers interest-free advances, basically a safety net they'll repay when prices drop again.
The big picture? More stable airfares and fewer surprise hikes, so booking your next flight should be way less stressful.