Airfares may rise as jet fuel price jumps sharply today

Pakistan – (Web Desk) – The government has raised the price of jet fuel used by commercial planes by Rs154 per litre. It is one of the biggest increases in recent years. After this change, the price has jumped from Rs188.93 to Rs342.37 per litre. This means the cost has gone up by about 82 percent.

This rise came soon after petrol and diesel prices were also increased by Rs55 per litre. The government made these changes as worries grow about global fuel supplies.

The tension started after a joint US and Israeli strike on Iran. Soon after, Iran said it would close the Strait of Hormuz, an important route for oil shipments around the world.

Because of the higher jet fuel cost, airlines may face bigger expenses. As a result, air tickets could become up to Rs5,000 more expensive.

Pakistan Railways has also changed its fares after diesel prices went up by nearly 20 percent. A railway spokesperson said economy class fares for passenger trains have increased by 5 percent. Fares for air-conditioned classes have gone up by 10 percent.

The department said it will still carry some of the extra cost for passenger services. However, freight train charges have been raised by 20 percent.

The new fares will start from March 9 for both passenger and freight trains. Tickets that were already booked will stay at the old price.

Pakistan has begun to feel the first direct economic impact of the war involving the United States, Israel and Iran, as tensions in the Gulf push global oil prices higher and threaten energy supply routes.

The country, heavily reliant on imported fuel, faces rising costs amid fears of disruptions to shipments through the Strait of Hormuz.

Amid the uncertainty, Pakistan has sought an alternative supply route through Saudi Arabia’s Red Sea port of Yanbu Port after Iran announced the closure of the key oil transit corridor.

The request was made by Petroleum Minister Ali Pervaiz Malik during a meeting with Saudi Ambassador to Pakistan Nawaf bin Said Al-Malki, who assured that supplies could be facilitated through the port.

A Decisive Strategic Moment for the Islamic World and Pakistan

In another development, the University of Karachi decided to shift morning classes online to facilitate students amid potential transport disruptions following a sharp rise in petroleum prices.

In a notification issued on Saturday, the university said the decision was taken to ensure students’ convenience as transportation constraints likely to arise due to the recent increase in petroleum prices.

It also stated that the administration decided to conduct morning classes from March 9, until the conclusion of the Ramadan month.