Airline tickets are likely to decrease in September 2024 after a reduction in fuel surcharges by the Civil Aeronautics Board (CAB) on lower jet fuel prices.
The CAB said in an advisory passenger and cargo fuel surcharges for domestic and international flights would go down to level 5 in September from level 6 in August.
Under level 5, the fuel surcharge for domestic flights would range from P151 to P542, depending on the distance, while for international flights, the fuel surcharge may range from P498 to P775.
The CAB said for the cargo fuel surcharge, airlines are allowed to charge P0.77 to P2.27 per kilogram for domestic flights under level 5 and P2.56 to P19.04 per kg. for international flights.
“Airlines wishing to impose or collect fuel surcharge must file its application with CAB on or before the effectivity period, with fuel surcharge rates not exceeding the above-stated level,” the CAB said.
The CAB said airline fuel surcharge is an optional fee, imposed and collected by airlines to recover fuel costs and stem losses caused by upward spikes in fuel cost.
It said fuel surcharge is not a part of the basic airfare and may be reduced or removed depending on the price of jet fuel in the market.
According to the International Air Transport Association’s (IATA) Jet Fuel price Monitor, the average jet fuel prices stood at $95.91 per barrel as of Aug. 16, 2024, down by 5.6 percent from last month and 14.6 percent from a year ago.
