Major Fuel Price Relief: PSO Slashes Jet Fuel by Rs 111; Petrol and Diesel Rates Drop by Rs 5
LAHORE (May 17)In a major relief for the aviation and transport sectors, Pakistan State Oil (PSO) has announced a massive reduction in jet fuel prices, slashing the rate by Rs 111.44 per litre. According to PSO’s official website, the new price stands at Rs 330.22 per litre. Aviation industry insiders expect this substantial cut to ease operational pressures for airlines, likely leading to cheaper domestic and international airfares in the coming weeks.
Concurrently, the government reduced the retail prices of petrol and High-Speed Diesel (HSD) by Rs 5 per litre in its weekly pricing review. To cushion consumers against shifting ex-refinery costs, significant adjustments were made to the Petroleum Levy (PL):
- Petrol: The PL was cut by Rs 9.24 per litre (from Rs 117.41 to Rs 108.17) to absorb a Rs 6.62 rise in supply costs, a waived Rs 2.69 exchange rate impact, and a 31-paisa reduction in the Inland Freight Equalization Margin (IFEM).
- HSD: Conversely, the PL on diesel was increased by Rs 9.40 per litre (from Rs 42.60 to Rs 52.00). However, a Rs 7.70 drop in the ex-refinery price combined with a Rs 6.70 cut in the IFEM rate completely offset the levy hike, ensuring a net Rs 5 relief for consumers at the pump.ends
