The price of jet fuel increased from Rs 188.93 per liter to Rs 342.32 per liter, according to 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 expected to rise in the coming days.
According to Pakistan State Oil sources, the price of jet fuel increased from ₨188.93 per liter to ₨342.32 per liter, an increase of ₨153.39 per liter following an increase of ₨55 per liter in general petroleum products.
This increase is expected to force domestic and international airlines to increase their airfares by 20% on domestic routes and up to 30% on international routes. Some airlines have already submitted proposals to their financial departments, and fares are expected to increase within the next day or two.
Read: Airline stocks hit by soaring oil prices and Iran war
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 ₨80,000 to ₨150,000.
Global oil prices are trending upward, suggesting 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 holiday.
Rising jet fuel prices will also increase airlines’ operational costs, thereby imposing an additional financial burden on passengers.
