The government on Saturday raised the price of jet fuel for commercial passenger aircraft for the fifth time in 28 days, citing an oil crisis that followed the conflict involving the United States, Israel and Iran — a move that pushed rates to a record high.
Just a day earlier, authorities had increased the price by Rs83 per litre, while airlines across Pakistan had already begun raising fares, pointing to a shortage of jet fuel and dwindling oil reserves.
In a statement on Saturday, Pakistan State Oil said the price was increased by Rs5 per litre, bringing the new rate to Rs476.97 per litre. Since March 1 the price has surged by Rs288 per litre, up from Rs188 per litre at the start of the month.
The sharp climb in jet fuel costs is expected to raise airlines’ operating expenses and could lead to further increases in ticket prices for passengers.
Domestic fares on routes connecting Karachi, Islamabad and Lahore — and at other stations — have seen notable hikes, with one-way fares from Karachi to Islamabad and Lahore reaching up to Rs40,000.
Fares for “chance seats” to Lahore and Islamabad have jumped by as much as 150%, with some airlines now charging over Rs50,000 for one-way “chance seat” tickets on domestic routes including Islamabad, Lahore and Karachi.
International economy-class tickets have risen as well, with fares to the Middle East, Toronto, Paris and Manchester ranging between roughly Rs300,000 and Rs700,000.