Airlines Hike Fares by up to Rs 28,000 Amid Global Fuel Price Uptick

KARACHI: Airlines have increased fares following an uptick in jet fuel prices, ARY News reported, citing airline sources.

According to these sources, domestic ticket prices have risen by Rs 2,800 to Rs 5,000. This increase applies to flights from Karachi to Lahore, Islamabad, and other domestic stations.

International travel has seen an even more significant jump, with fares increasing by a staggering Rs 10,000 to Rs 28,000.

Specifically, fares for flights to Middle Eastern and Central Asian countries have risen by Rs 15,000.

Meanwhile, tickets to Toronto and Manchester from Pakistan have seen an increase of Rs 28,000, bringing the price of a one-way ticket to these destinations above Rs 250,000.

The price hike follows a sharp increase in the cost of jet fuel. A few days ago, the price of jet fuel rose by Rs 154 per liter, jumping from its previous rate to a current price of Rs 342 per liter

The hike represents a staggering 82 percent increase, which is likely to result in an airfare uptick of at least Rs 5,000. Aviation experts noted that airlines will inevitably raise fares to cover the surge in operational expenditures.

Yesterday, the government of Pakistan had announced a sharp increase in petrol prices, citing rising global oil costs linked to escalating tensions in the Middle East.

Rs 55 per litre was increased in the prices of petrol and diesel.

Under the new prices, petrol will cost Rs. 321.17 per litre, while diesel will increase from Rs. 275.70 to Rs. 335.86 per litre.

Deputy Prime Minister and Foreign Minister, Ishaq Dar, has said that the decision had been taken after oil prices surged in the international market following a widening conflict in the region.

He told reporters that the situation intensified after an attack on Iran, adding that the conflict had expanded over the past 48 hours, with Turkey and Azerbaijan also becoming involved, pushing global petroleum prices significantly higher.

Petroleum Minister Ali Pervaiz Malik, who also attended the briefing, described the increase as a difficult decision. He said the government was trying to ensure the country’s energy needs were met during a challenging period.

IMF urges Pakistan to increase petrol prices immediately
The International Monetary Fund (IMF) had urged Pakistan to immediately increase petrol and diesel prices, sources said.

According to sources, the demand was made during virtual talks between Pakistani authorities and an IMF delegation.