Fuel Surcharge Rises 6 Levels in 2 Months
Overseas Travel Expenses Expected to Increase
As international oil prices approach around $90 per barrel due to production cuts by major oil-producing countries, airline ticket prices are also rising. In particular, the fuel surcharge, one of the components of airline ticket prices, has been significantly increased since last month.
According to the aviation industry on the 20th, the fuel surcharge for October will be applied at 'level 14,' which is three levels higher than this month. As a result, the fuel surcharge has increased by three levels at a time for two consecutive months.
Airfare is mainly composed of the base fare, airport tax, and fuel surcharge. Among these, the fuel surcharge has risen for two consecutive months, which is expected to increase the cost burden on travelers.
In the case of Korean Air, the international flight fuel surcharge for October ranges from 30,800 to 226,800 KRW one-way, depending on the travel distance. This is a significant increase compared to September (20,800 to 163,800 KRW). Asiana Airlines will also adjust from 23,300 to 134,600 KRW this month to 32,000 to 177,100 KRW next month.
For domestic flights, both Korean Air and Asiana Airlines will raise the fuel surcharge by 3,300 KRW to 13,200 KRW compared to this month. Low-cost carriers (LCCs) such as Jeju Air will also uniformly apply 13,200 KRW.
Domestic fuel surcharges are based on Singapore jet fuel prices. When the average price per gallon (3.785 liters) is 150 cents or more, the surcharge is divided into a total of 33 levels; if below that, no surcharge is applied.
The average Singapore jet fuel price from August 16 to September 15, which serves as the basis for the October international fuel surcharge, was 286.43 cents per gallon.
The fuel surcharge has fluctuated throughout this year. It showed a downward trend from level 13 in March, level 10 in April, level 8 in May, to level 7 in June, stabilizing at level 8 last month.
However, in September, it rose to level 11, three levels higher than the previous month, and surged to level 14 next month.
The recent rise in international oil prices due to supply instability has affected the fuel surcharge. The West Texas Intermediate (WTI) crude oil price recently recorded around $90 per barrel, reaching the highest level of the year.
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