ISLAMABAD: The government has reduced the price of jet fuel following significant cuts in petrol and diesel rates, according to official sources.
Sources said the price of jet fuel has been lowered by Rs56.97 per litre, bringing the new price to Rs238.87 per litre.
Following the reduction in jet fuel prices, a decrease in domestic and international airfares is expected, market observers said.
The latest adjustment comes a day after the government announced substantial reductions in petroleum product prices.
According to official figures, petrol was reduced by Rs74.28 per litre, while high-speed diesel saw a cut of Rs67.31 per litre.
The successive reductions in fuel prices are expected to provide relief to consumers and may ease transportation and travel costs in the coming weeks.
More read, Kerosene oil prices declined by Rs48.29 per litre in Pakistan
Earlier, Oil and Gas Regulatory Authority (OGRA) has officially announced a major reduction of Rs28.29 per litre in the price of kerosene oil as part of the government’s fuel relief package.
According to the new notification, the price of kerosene oil has been reduced to Rs233.90 per litre, down from the previous rate of Rs282.19 per litre.
This decision follows Prime Minister Shehbaz Sharif’s announcement on Friday about a significant cut in petroleum prices. He said the relief was made possible due to better regional economic conditions and a fall in global oil prices, which the government is passing on to the public.
The same announcement also included reductions in other fuel prices. Petrol prices were cut by Rs74 per litre, bringing the rate down from Rs373 to Rs299 per litre. High-speed diesel (HSD) was also reduced by Rs67 per litre, dropping from Rs378 to Rs311 per litre.
