ISLAMABAD – Sigh of relief for aviation and energy sectors as commercial jet fuel prices have been slashed by Rs23 per liter amid improving geopolitical conditions in Middle East.
The price of jet fuel used in aircraft operations has been revised downward to Rs 471 per liter, offering immediate relief to airlines already under pressure from rising operational costs.
Industry insiders said the move could ease financial strain on carriers and may even open the door to stabilized or lower airfares, potentially benefiting millions of passengers in the coming weeks. Officials have linked the price drop to easing tensions in global oil markets, which has triggered a decline in fuel import costs.
Passengers and airline operators widely welcomed the decision, calling it a timely boost for affordability and efficiency in air travel.
Petrol, Diesel Price Update
Diesel prices also witnessed massive Rs 32.12 per litre drop in high-speed diesel (HSD) prices, while keeping petrol prices unchanged for the week ending April 24.
The decision comes amid rapidly falling global oil prices following a ceasefire announcement between US and Iran, which has significantly eased geopolitical tensions.
The reports indicate that the last-minute reopening of the Strait of Hormuz and a sharp 12–13% drop in global oil prices were not fully factored in before the approval of the price cut through a written statement. Analysts suggest that further reductions may be reflected in the coming week as global markets continue to adjust.
The ex-depot price of high-speed diesel has now been fixed at Rs 353.42 per litre, down from Rs 385.54, marking a steep 8.3% decline.
This comes after diesel prices previously surged to a high of Rs 520.35 on April 10, highlighting a dramatic reversal in just a short period.
High-speed diesel is considered the most inflation-sensitive fuel in the country due to its extensive use in freight transportation, meaning this reduction could have a direct impact on the prices of essential goods and services.
PM’s Office stated that PM Shehbaz approved the diesel reduction with the intention of providing relief to the public, and pledged that the government would continue passing on benefits as quickly as possible.
Despite the price cuts, taxation on petroleum products remains unchanged. High-speed diesel includes about Rs 36 per litre in taxes, including Rs 33 customs duty and Rs 2.5 climate support levy.
Petrol carries a heavy Rs 107 per litre tax burden, including Rs 81 petroleum levy, Rs 24 customs duty, and Rs 2.5 climate levy. Officials confirmed that no changes were made to tax rates on any petroleum products.
Diesel Price in Pakistan reduced to Rs353 amid big dip in crude oil
