Airline fuel surcharge to be lower in first half of May

MANILA, May 2 ------ The Civil Aeronautics Board has slightly lowered the fuel surcharge level for the first half of May to Level 18 from Level 19. This is expected to slightly lower the cost of flight for airline passengers from May 1-15.

Currently, Level 19 means domestic passengers’ fuel surcharges can range from P627 to P1,834. For international passengers, meanwhile, surcharges can range from P2,070.77 to P15,397.15. But at Level 18, the surcharge goes down to between P593 to P1734 for domestic routes, and between P1,958.44 and P14,561.87 for international routes.

CAB also set the forex conversion rate at $1 = P60 for airlines who will collect the surcharge in the equivalent currency. The agency, earlier this month, transitioned from a one-month fuel monitoring cycle to a 15-day window. CAB stated this "shorter cycle of 15 days during this extraordinary period of high volatility in fuel prices shall allow faster response to market changes, reducing the lag between actual fuel costs and applicable fuel surcharge."

Aviation fuel prices skyrocketed after the US and Israel launched attacks on Iran at the end of February.

Source: news.abs-cbn.com