Jet fuel price has increased from Rs188.93 per liter to Rs342.32 per litre, PSO sources say
LAHORE:
The ongoing conflict between Iran and the US and Israel has driven up global oil prices, with a direct impact on jet fuel costs and flight prices expected to rise in the coming days.
According to Pakistan State Oil sources, the price of jet fuel has increased from ₨188.93 per liter to ₨342.32 per liter, marking an increase of ₨153.39 per liter after a ₨55 per liter increase in regular petroleum products.
The increase is expected to force domestic and international airlines to raise fares by 20% on domestic routes and up to 30% on international routes. Some airlines have already submitted proposals to their finance departments and prices are likely to increase in the next day or two.
Read: Airline stocks hit as oil prices rise, Iran war intensifies
Fares from Lahore, Karachi and Islamabad to London can increase by up to ₨100,000, while tickets to Paris, Istanbul, New York and Toronto can increase by ₨80,000-150,000.
Global oil prices are showing an upward trend, suggesting that international air travel is becoming more expensive. In Pakistan, more than a dozen airlines have prepared to raise fares, which could deal a financial shock to Pakistanis traveling from abroad during the Eid holiday.
Higher jet fuel prices will also increase airlines’ operating costs, placing an additional financial burden on passengers.
