Fuel surcharge reduced for October flights 

THE Civil Aeronautics Board (CAB) said it downgraded the fuel surcharge for commercial airline flights in October.

In an advisory on Tuesday, CAB downgraded the passenger fuel surcharge to Level 4 for October from Level 5 in September.

This is the first time the passenger fuel surcharge was set at Level 4 this year.

At Level 4, the passenger fuel surcharge is between P117 and P342 for domestic flights and P385.70 and P2,867.82 for international flights originating from the Philippines.

At the current Level 5, the fuel surcharge for domestic flights ranges from P151 to P542. For international the surcharge is P498.03 to P3,703.11.

A fuel surcharge may be collected by airlines based on the movement of jet fuel prices, using a benchmark known as MOPS (Mean of Platts Singapore).

The CAB said all airlines seeking to collect the October fuel surcharge must submit an application on or before the effectivity period.

It said the applicable conversion rate for airlines is P56.67 to the dollar.

The global average jet fuel price dropped 4.6% week on week to $84.25 per barrel as of Sept. 13. Year on year, jet fuel prices declined by an average of 25%, according to fuel price monitoring reports by the International Air Transport Association. — Ashley Erika O. Jose