New Delhi: State-owned oil marketing companies (OMCs) on Wednesday made substantial revisions to prices of both aviation turbine fuel (ATF) and commercial LPG, with rates surging sharply -- including a more-than-doubling in jet fuel prices -- tracking a spike in global oil prices amid the escalating West Asia conflict. 

Jet fuel prices more than doubled to a record high, while commercial LPG rates also rose significantly, adding to cost pressures across sectors.

The price of ATF in Delhi was hiked by Rs 1,10,703.08 per kilolitre or 114.5 per cent to Rs 2,07,341.22 per kl, according to fuel retailers.

This marks the first time that ATF prices have crossed the Rs 2 lakh per kl mark.

The previous peak was recorded in 2022, when rates had surged to around Rs 1.1 lakh per kl following the spike in crude oil prices after the Russia-Ukraine conflict.

This is also the second consecutive monthly increase in jet fuel prices, following a 5.7 per cent (Rs 5,244.75 per kl) hike on March 1.

Alongside, OMCs raised the price of 19-kg commercial LPG cylinders by Rs 195.50. Following the revision, a cylinder now costs Rs 2,078.50 in Delhi.

However, there has been no revision in domestic LPG prices. A 14.2-kg cooking gas cylinder continues to retail at Rs 913 in the national capital.

Oil marketing companies revise ATF and LPG prices on the first day of every month based on international benchmarks and exchange rate movements.

The sharp increases come amid a steep rally in global crude oil prices, which have jumped nearly 50 per cent due to supply disruptions linked to the ongoing West Asia conflict.

Globally, crude oil prices remained firm on Wednesday. Brent crude futures rose 1.81 per cent to $105.86 per barrel, while US West Texas Intermediate (WTI) futures were up 1.90 per cent at $103.31.