Pakistan Raises Jet Fuel Price by Rs154 Per Litre Amid Global Oil Crisis
The move comes shortly after the government raised petrol and diesel prices by Rs55 per litre, as global energy markets face disruption following the conflict involving the United States, Israel and Iran.
Impact on Airlines and Airfares
The significant jump in jet fuel prices is expected to increase operational costs for airlines. Industry sources say the rise could lead to airfares increasing by up to Rs5,000 per ticket on certain routes as airlines pass on the higher fuel costs to passengers.
Railway Fares Also Increased
Following the increase in diesel prices, Pakistan Railways has also announced fare adjustments.
According to railway officials:
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Economy class fares for passenger trains have increased by 5%
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Air-conditioned class fares have been raised by 10%
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Freight train charges have increased by 20%
The revised fares will take effect from March 9, although tickets already booked will not be affected.
Global Oil Tensions Behind Price Hike
The fuel price surge follows geopolitical tensions after attacks on Iran and Tehran’s announcement of the closure of the Strait of Hormuz, a corridor through which nearly one-fifth of global oil shipments pass.
The disruption has triggered fears of supply shortages and rising global oil prices, directly affecting countries like Pakistan that rely heavily on imported fuel.
Pakistan Seeks Alternative Oil Route
To ensure energy supply, Pakistan has approached Saudi Arabia to facilitate oil shipments through the Yanbu Port on the Red Sea.
The request was made by Petroleum Minister Ali Pervaiz Malik during a meeting with the Saudi ambassador, who assured that crude oil supplies could be routed through the port if needed.
from Latest Pakistan News - SUCH TV https://ift.tt/SxBpCeF
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