Asian – Dispatch

The government of Pakistan gave major relief to airlines and aviation companies by reducing the price of jet fuel for large aircraft by Rs. 48.80 per liter.

According to a notification issued by Pakistan State Oil (PSO), the new price of jet fuel has been fixed at Rs. 283.52 per liter. The reduction is expected to bring down airline fares across the country.

The move came a day after the government announced a reduction in petroleum prices, cutting both petrol and high-speed diesel by Rs. 22 per liter.

After the reduction, the revised ex-depot price of high-speed diesel was fixed at Rs. 380.78 per liter, down from Rs. 402.78. The price of motor spirit, or petrol, was reduced to Rs. 381.78 per liter from Rs. 403.78.

With the latest cut, the government has reduced the price of jet fuel by a total of Rs. 283 per liter. Jet fuel had reached a record high of Rs. 517 per liter during the war situation in the Middle East. Before the conflict, the price stood at Rs. 188 per liter on February 28.

In March, the government increased the price of jet fuel for commercial passenger aircraft for the fifth time in 28 days. Authorities cited the oil crisis following the conflict between the United States, Israel and Iran, which pushed rates to a record high.

A day before one of the hikes, authorities had increased the price by Rs. 83 per liter. Airlines in Pakistan had already raised fares, citing a shortage of jet fuel and limited oil reserves.

The price of jet fuel was later increased by another Rs. 5 per liter, bringing the rate to Rs. 476.97 per liter.

Source: Pro Pakistani