<\/p>\n
By Ashley Erika O. Jose, <\/b>Reporter<\/i><\/p>\n
THE Civil Aeronautics Board (CAB) will raise the passenger fuel surcharge to Level 13 for Aug. 1-15 from Level 8 within the second half of July, marking the primary increase after a six-review-period downtrend in fuel surcharge levels.<\/span><\/p>\n In an advisory issued Tuesday, the regulator said airlines collecting fuel surcharges in foreign currency should use an exchange rate of P61.65 per US dollar.<\/p>\n At Level 13, fuel surcharges range from P423 to P1,237 for domestic flights and from P1,396.74 to P10,385.42 for international flights, depending on distance.<\/p>\n The brand new rates are greater than double the present Level 8 surcharges, which range from P253 to P787 for domestic flights and from P835.05 to P6,208.98 for international routes.<\/p>\n Based on CAB\u2019s indicative rates, passengers traveling to Singapore, Thailand, Malaysia, and Guam pays a fuel surcharge of P1,931.72, while those flying to Indonesia, Japan, and South Korea pays P2,172.80.<\/p>\n 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.<\/span><\/p>\n The regulator shifted from a monthly review to a 15-day review cycle to reply more quickly to fuel price movements following the conflict within the Middle East.<\/p>\n The interim review cycle will remain in effect until market conditions stabilize or until the CAB revises or revokes the policy.<\/p>\n In keeping with the International Air Transport Association (IATA), jet fuel prices rose 7.1% week on week to $160.06 per barrel as of July 24. Compared with a yr earlier, prices were 77.8% higher.<\/p>\n \u201cThe rising global jet fuel prices which have surged to greater than double 2025-year levels proceed to significantly impact our operations,\u201d AirAsia Philippines said in a press release.<\/p>\n Despite higher fuel costs, the low-cost carrier said it could reintroduce promotional fares with base fares starting at P188 as a part of its efforts to stimulate travel demand within the second half of the yr.<\/span><\/p>\n Meanwhile, the Department of Energy (DoE) said fuel retailers implemented price increases effective July 21 of as much as P3.65 per liter for gasoline, P10.68 per liter for diesel, and P11.77 per liter for kerosene.<\/p>\n The DoE also said that, as of July 17, the country\u2019s fuel inventory was sufficient to fulfill average day by day demand of 78.08 million liters for about 45 days, while jet fuel stocks were enough for roughly 82 days.<\/p>\n<\/p><\/div>\n <\/p>\n","protected":false},"excerpt":{"rendered":" PHILIPPINE STAR\/ WALTER BOLLOZOS By Ashley Erika O. Jose, Reporter THE Civil Aeronautics Board (CAB) will raise the passenger fuel surcharge to Level 13 for Aug. 1-15 from Level 8 within the second half of July, marking the primary increase after a six-review-period downtrend in fuel surcharge levels. In an advisory issued Tuesday, the regulator […]<\/p>\n","protected":false},"author":1,"featured_media":373545,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[17610,3583,5499,3513,54358,2932,25486],"class_list":["post-373544","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-cab","tag-fuel","tag-level","tag-raises","tag-sixperiod","tag-slide","tag-surcharge"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t