Airfares may ease as fuel surcharge level lowered

MANILA — Airfares may dip after the Civil Aeronautics Board (CAB) slightly lowered the fuel surcharge to Level 16 for October 16 to 31, from its previous Level 17 from October 1 to 15. 

Under Level 16, the domestic fuel surcharge may range from P525 to P1,535. 

The fuel surcharge for international flights, meanwhile, may range from P1,733.76 to P12,891.29. 

The fuel surcharge is an “optional fee” airlines collect to recover costs from the swings in jet fuel prices. They are adjusted upward or downward depending on the price of aviation fuel in the world market. 

CAB has set twenty fuel surcharge levels, with 20 being the highest and most expensive. 

Last week, US President Donald Trump ruled out attacking Iran before the US midterms on November 3, saying Washington was holding “productive discussions” with Tehran.

Trump’s announcement came after a surge in oil prices driven by media reports suggesting potential new US strikes prior to the elections.

— with reports from Agence France-Presse