Islamabad [Pakistan], March 29 (ANI): The federal government of Pakistan has increased the price of kerosene oil by PKR 4.66 per litre, taking the new rate to PKR 433.40 per litre with effect from March 28, according to a notification issued by the Petroleum Division, The Express Tribune reported on Sunday.

According to The Express Tribune, while kerosene prices saw a fresh hike, the government kept petrol and diesel rates unchanged at PKR 321.17 per litre and PKR 335.86 per litre, respectively, despite ongoing fluctuations in global oil markets.

Authorities indicated that the move was aimed at shielding consumers from international price volatility, even as domestic pricing pressures continue to mount.

According to the notification, the government is also absorbing part of the cost burden, with payments of PKR 95.59 per litre on petrol and PKR 203.88 per litre on diesel being made to oil marketing companies, The Express Tribune reported.

The development comes amid broader concerns over rising fuel costs and their impact on inflation and household expenses.

Earlier on Saturday, the Government of Pakistan raised the price of jet fuel for commercial passenger aircraft for the fifth time in just 28 days, attributing the sharp increase to the ongoing oil crisis triggered by the ongoing conflict in West Asia, The Express Tribune reported.

According to The Express Tribune, citing a statement, Pakistan State Oil said the latest hike of PKR 5 per litre took jet fuel to a record PKR 476.97 per litre. Since March 1, the price has surged by PKR 288 per litre, up from PKR 188 at the beginning of the month amid volatile global energy markets.

The surge in aviation fuel costs has already prompted airlines to raise ticket prices, officials and industry sources said, pointing to a shortage of jet fuel and limited oil reserves as key factors driving the increases.

Industry experts warned that higher jet fuel prices would further inflate operating costs for carriers, likely resulting in additional hikes in passenger fares, The Express Tribune reported.

Domestic one-way fares on major routes such as Karachi-Islamabad and Karachi-Lahore are reportedly reaching up to PKR 40,000, with 'chance seat' tickets climbing by as much as 150 per cent, The Express Tribune reported.

International economy class fares to destinations including the Middle East, Toronto, Paris and Manchester have also risen sharply, ranging between approximately PKR 300,000 and PKR 700,000.

The jet fuel price escalation comes alongside other fuel tax changes, including a PKR 200 per litre increase in the fuel levy on high-octane petrol used in luxury vehicles, adding to inflationary pressures, The Express Tribune reported.

Pakistan's broader fuel price hikes, coupled with rising diesel and petrol costs earlier this month, have intensified the cost of living, pushing up transport fares and prices for daily necessities such as fruits and vegetables. (ANI)