The government has announced a major cut in jet fuel price, slashing the price by Rs48.80 per litre.
The new price is Rs283.52 per litre.
This development may also lead to a decrease in airfares in Pakistan.
The government has also reduced the price of Light Diesel Oil by Rs30.61 per litre, fixing the new rate at Rs244.93 per litre.
A day earlier, the federal government had announced a reduction of Rs22 per litre in petrol and High-Speed Diesel (HSD) prices as an Eid gift to the public.
The new price of HSD has been set at around R380 per litre, and petrol at around Rs381 per litre.
According to a statement from the Prime Minister’s Office, the government has continued to provide relief to the people even in the most difficult economic conditions, and petroleum product prices were also reduced last week.
The statement said that Prime Minister Shehbaz Sharif had promised the nation that relief would be provided as soon as fiscal space became available.
On the other hand, crude oil prices have also declined in the global market. The price of British crude oil fell by $1.46 per barrel, bringing it to a new level of $92.25 per barrel. Meanwhile, US crude oil also dropped by 73 cents, reaching $88.17 per barrel.
