Govt cuts jet fuel price by Rs49 per litre

In a major relief measure for the aviation sector, the government has significantly reduced jet fuel prices, a move expected to lower operating costs for airlines and potentially lead to reduced airfares for passengers.

According to official sources, the price of jet fuel used by large commercial aircraft has been cut by Rs48.80 per litre, bringing the new rate down to Rs283.52 per litre.

The reduction is a substantial relief package for Pakistani airlines and aviation companies, which have been facing elevated operating expenses due to fluctuating fuel costs.

Officials said the latest decrease raises the possibility of a corresponding reduction in airline ticket prices across domestic and international routes, although carriers have not yet made formal announcements.

Sources further revealed that the government has cumulatively reduced jet fuel prices by Rs283 per litre from their peak levels. The price of jet fuel had surged dramatically during regional tensions and conflict-related uncertainties, reaching a record Rs517 per litre.

Before the outbreak of conflict in the Middle East, however, jet fuel was sold at Rs188 per litre on February 28. Aviation industry stakeholders believe the latest reduction will ease financial pressure on airlines and support the recovery and growth of the country's air transport sector.

The federal government on Friday also announced a significant reduction in petroleum prices, slashing both petrol and high-speed diesel by Rs22 per litre.

Prime Minister Shehbaz Sharif had earlier promised that relief would be passed on to the public as soon as fiscal space became available. Officials said that commitment has now been fulfilled and is being presented as an "Eidul Azha gift" for the public on the third day of the festival.

The prime minister also noted that similar relief was provided in the previous week when fuel prices were reduced, reiterating that easing the burden on consumers remains a top government priority.