Islamabad: The government has also increased the price of jet fuel in the continuation of the recent increase in the prices of petroleum products, after which there is a possibility of a further increase in the cost of fuel in the aviation sector. According to sources, the new prices have been implemented immediately.
According to the available information, the price of jet fuel has been increased by Rs 13.23 per litre, after which its new official price has been set at Rs 251.20 per litre. This change in prices has been made in the context of global market trends and changes in import costs.
This development has come at a time when the government had also significantly increased the prices of important petroleum products for public consumption a day earlier. According to a notification issued by the Petroleum Division, the price of petrol was increased by Rs 13.18 per litre, after which its new price became Rs 310.71 per litre.
Similarly, the price of high-speed diesel was increased by Rs 13.80 per litre, after which its new price was fixed at Rs 323.30 per litre. After the implementation of the new prices, additional pressure is expected on the transport, agricultural and industrial sectors as well as on the costs of air operations.
According to economists, the increase in the price of jet fuel may lead to an increase in the operating costs of airlines; however, any possible change in ticket prices or cargo charges will be decided by the concerned airlines, keeping in mind their business strategy and market conditions.
Analysts say that price fluctuations in the global energy market and changes in import costs directly affect the prices of petroleum products in Pakistan. Future pricing will also be linked to global crude oil prices, exchange rates and government fiscal policy.
