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