No change in September airline fuel surcharge — CAB – BusinessWorld Online
THE Civil Aeronautics Board (CAB) has kept the passenger fuel surcharge at Level 4 for September, keeping airline fuel charges steady for the month.
In an advisory on Tuesday, the CAB said the passenger fuel surcharge will remain at Level 4 for the Sept. 1-30 period.
At Level 4, the passenger fuel surcharge ranges from P117 to P342 for domestic flights, and from P385.70 to P2,867.82 for international flights originating in the Philippines.
A fuel surcharge may be collected by airlines based on movements in jet fuel prices, using a benchmark known as MOPS (Mean of Platts Singapore).
For airlines collecting the surcharge in foreign currency, the applicable conversion rate is P57.13 per dollar, the CAB said.
The global average jet fuel price fell by 2% week on week as of Aug. 15 to $83.35 per barrel. Year on year, the global average price of jet fuel dropped by 12.8%, according to fuel price monitoring reports from the International Air Transport Association. — Ashley Erika O. Jose
