SEOUL: South Korean airlines will lower their fuel surcharges on international routes in June in line with a fall in jet fuel prices, reported Yonhap quoting industry sources today.
The surcharges for one-way tickets on long-haul international routes will be capped at 107,800 Korean won (US$81.14) next month, down by one notch from May, according to the sources.
If the average jet fuel price on the Singapore spot market rises over US$1.50 per gallon, local airlines are allowed to impose fuel surcharges. There are 33 levels of surcharges, depending on how long a route is.
Jet fuel prices averaged US$218.13 per gallon on the Singapore exchange between April 16 and May 15.
Fuel surcharges on domestic routes will come to 9,900 Korean won next month, unchanged from May.
Surcharges on domestic routes are levied if the average jet fuel price exceeds US$1.20 per gallon.