As the prices of Aviation fuel, popularly called Jet A1, continue to rise, there are strong indications that airfares will soon be increased again from their present all time high.
The additional road haulage cost makes the product more expensive in airports outside Lagos.
Aviation fuel constitutes 40 per cent of running operational cost of operators.
Airline operators, who spoke with Vanguard, said they were considering further increase of airfare to accommodate recent Jet A1 price hike and scarcity in some airports in the country.
Currently, the pump price of the product in Lagos hovers between N284 and N290 per litre.
Ever-increasing prices
Prices continuIn Abuja, the price is even as high as between N295 and N300, while the product can be purchased for N302 and above per litre in Kano. This is a steady increase in price. In April 2021, the price was between N250 and N275 per litre, which was about 200 per cent increase in price in 2016 when it was sold at N110.
The difference in prices at various airports, it was learned, is due to the additional haulage cost incurred from taking the product from Lagos sea port.
