Indian Oil raises jet fuel 5.46% to ₹121.28 per liter
Business
If you're flying soon, here's something to know: jet fuel prices in India just went up by 5.46%.
That's the second hike in two months, with Indian Oil raising rates from ₹115 to ₹121.28 per liter.
This follows another bump back in August, which had already erased July's price drop.
Crude rises on US Iran tensions
Global crude oil prices are on the rise, thanks mostly to tensions between the US and Iran that could disrupt supplies through the Strait of Hormuz (a major route for oil).
Brent crude is now close to $90 a barrel, while WTI has crossed $86.
For Indian airlines, this means higher operating costs; fuel makes up about 35% to 40% of their operating expenses.
Ticket prices might go up too, but that depends on things like demand and competition.