The Pakistan government has slashed jet fuel prices by Rs111.44 per litre, bringing the new rate to Rs330.22 per litre, in a move expected to reduce airline operational costs and lower airfares for passengers, ARY News reported on Sunday.
According to aviation industry sources, the price reduction is likely to ease financial pressure on airlines, which have been grappling with high fuel expenses amid global crude oil volatility. Officials said the cut could translate into cheaper ticket prices for domestic and international travellers in the coming weeks.
Industry sources noted that jet fuel was priced at Rs188 per litre before the outbreak of conflict in the Middle East, and airline operators still consider the current rate high compared to pre-crisis levels. The government had earlier raised jet fuel prices by Rs53.11 per litre on May 9, pushing the rate to Rs441.66 per litre, while reducing the cost of light diesel oil.
On Friday, the government also announced a petrol price cut of Rs5 per litre, offering fresh relief to consumers facing continued economic pressure. Similarly, the price of high-speed diesel was slashed by Rs5 per litre, bringing the new diesel rate to Rs409.58 per litre. Officials said the reductions were made under the government’s fortnightly fuel price review mechanism, which takes into account fluctuations in international oil prices and exchange rate movements.
The jet fuel price cut has raised hopes among travellers and the aviation industry, which has been struggling with high operating costs. With lower fuel expenses, airlines may be able to offer more competitive fares, potentially boosting air travel demand in Pakistan. However, some industry analysts caution that global uncertainties and currency volatility could still impact future pricing.
For more details, read about jet fuel and global oil prices. Follow updates on Al Jazeera.
Source: ARY News