Jet fuel price hiked for fifth time in 28 days

The government on Saturday increased the price of jet fuel for commercial passenger aircraft for the fifth time in 28 days, citing the oil crisis sparked by the US-Israel attack on Iran and its subsequent retaliation.

Just a day earlier, authorities raised the price by Rs83 per litre, while airlines in Pakistan also increased fares, citing a shortage of jet fuel and limited oil reserves.

According to a statement by PSO on Saturday, the price of jet fuel increased by Rs5 per litre, bringing the new price to Rs476.97 per litre. Since March 1, the price has surged by Rs288 per litre.