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CAB cuts airline fuel surcharge to Level 12 for Aug. 16-31
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BusinessWorld Online
THE Civil Aeronautics Board (CAB) has lowered the passenger fuel surcharge to Level 12 for Aug. 16-31 from Level 13 in the first half of the month.
For international flights originating from the Philippines, fuel surcharges may range from P1,284.80 to P9,550.13, depending on the distance.
Fuel surcharges are variable fees added to base fares to offset fluctuations in jet fuel prices.
The CAB adjusts the surcharge based on movements in jet fuel prices using the Mean of Platts Singapore (MOPS) benchmark.
According to the International Air Transport Association, jet fuel prices fell 7.5% week on week to $146.93 per barrel as of Aug. 7.