Travelers will be able to take advantage of even cheaper domestic and international flights over the holiday season with the implementation of the year-low fuel surcharge in October.
In its latest advisory issued earlier this week, the Civil Aeronautics Board (CAB) has set the fuel surcharge rate at Level 4 for October 2024 from Level 5 which was implemented in February.
In addition to the base fare, airlines have the option to charge passengers a fuel surcharge to offset costs associated with the volatility of jet fuel.
Under Level 4, passengers will pay an extra P117 to P342 for domestic travel and P385.70 to P2,867.82 for international travel.
These are less expensive than Level 5 prices, which range from P151 to P542 for domestic travel and from P498.03 to P3,703.11 for international travel.
“Airlines wishing to impose or collect fuel surcharges for the same period must file their application with this Office on or before the effectivity period, with fuel surcharge rates not exceeding the above-stated level,” the CAB said.
Airlines announced in February of last year that airfares would drop after CAB reduced the fuel surcharge from Level 6 to Level 5.
Oil prices have been declining recently on the international market on the back of decreased demand and the ongoing challenges facing China’s economy.
Additionally, petroleum imports are now less expensive than they were in earlier months due to the strengthening peso. (TCSP)
