Jet fuel prices in Pakistan have surged sharply, rising by Rs84 per litre to reach a record Rs472 per litre, according to reports.
The latest increase marks a staggering jump of around Rs282 since March 1, when the price stood at Rs190 per litre, reflecting continued volatility in global energy markets.
Airlines are now facing mounting operational costs, raising concerns about flight sustainability. Industry experts warn that airfares are likely to increase further as carriers pass on the additional burden to passengers.
This is the fourth upward revision in jet fuel (JP-1) prices since the beginning of March. Earlier, the government had raised prices by Rs154 per litre, pushing rates to Rs342.37 from Rs188.93 — an 82 percent increase that had already signaled fare hikes of at least Rs5,000.
The surge comes amid broader increases in petroleum prices. The government recently raised petrol prices by Rs55 per litre, bringing the new rate to Rs321.17, while diesel climbed to Rs335.86 per litre.
Speaking on the development, Ishaq Dar said the hike followed a sharp rise in global oil prices driven by escalating tensions in the Middle East. He noted that the situation intensified after an attack on Iran, with the conflict expanding in recent days and impacting international markets.
Petroleum Minister Ali Pervaiz Malik termed the increase a difficult but necessary decision, emphasizing the government’s efforts to ensure energy supply during a challenging period.
Meanwhile, the International Monetary Fund has also urged Pakistan to immediately increase petrol and diesel prices during recent virtual talks with authorities, adding further pressure on the country’s fuel pricing policy.
