Cheaper airfares expected as CAB lowers fuel surcharge in February
Manila, Philippines – Expect lower airfares in February.
This after the Civil Aeronautics Board (CAB) further lowered the fuel surcharge from Level 7 to Level 6 for the month of February.
From Dec. 10, 2022 to Jan, 9, 2023, the price of jet fuel averaged PHP38.92 per liter, corresponding to Level 6 of the Passenger and Cargo Fuel Surcharge Matrix, the CAB said in an advisory on Wednesday.
The fuel surcharge under Level 6 ranges from PHP610.37 to PHP4,538.40 for international flights, and from PHP165 to PHP665 for domestic destinations, depending on the distance.
CAB said airlines that want to collect or impose the fuel surcharge must file their application with the Office of the Executive Director on or before the effectivity period.
The conversion rate for this period is US$1 = PHP55.60.
In a statement, Cebu Pacific president Xander Lao said the decrease in fuel surcharge is a very promising trend that signals increased affordability of air travel.
“We hope this encourages passengers and their families and friends to travel more in 2023. Cebu Pacific is excited to offer even lower fares for every Juan,” he said.
Meanwhile AirAsia Philippines said the move is a welcome development, especially for those planning their summer vacation as early as February.
It also said that based on the forward bookings, the lowering of the fuel surcharge is among the proven effective measures in sustaining the pent-up demand for air travel.