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.
In an advisory on Wednesday, the CAB said airlines may collect fuel surcharges ranging from P389 to P1,137 for domestic flights under Level 12.
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.
The regulator shifted from a monthly review to a 15-day review cycle to respond more quickly to fuel price movements following the conflict in the Middle East.
The interim review cycle will remain in effect until market conditions stabilize or until the CAB revises or revokes the policy.
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. On a year-on-year basis, jet fuel prices rose 63.2%. — Ashley Erika O. Jose
