The government has provided major relief to airlines and aviation companies by reducing the price of jet fuel for large aircraft by Rs48.80 per litre.
According to a notification issued by Pakistan State Oil, the new price of jet fuel has been fixed at Rs. 283.52 per litre. The reduction is expected to help lower airfares for passengers across the country.
The cut came a day after the government announced a Rs22 per litre reduction in the prices of petrol and high-speed diesel. Following the revision, the ex-depot price of high-speed diesel was reduced from Rs402.78 to Rs380.78 per litre, while petrol prices fell from Rs403.78 to Rs381.78 per liter.
With this latest decrease, the government has reduced jet fuel prices by a total of Rs283 per litre. Jet fuel had reached a record high of Rs517 per liter during the Middle East conflict. Before the war, the price stood at Rs188 per litre on February 28.
In March, the government increased jet fuel prices for commercial aircraft five times within 28 days, citing an oil crisis caused by the conflict involving the United States, Israel and Iran. During that period, prices rose sharply, including a single increase of Rs83 per litre, prompting airlines to raise fares due to higher operating costs and fuel shortages.
Jet fuel prices were later increased by another Rs5 per litre, taking the rate to Rs476.97 per litre before the recent reductions.
