Air travelers should expect continued high fares for the first half of May, as the Civil Aeronautics Board (CAB) set a Level 18 fuel surcharge for the period from May 1 to 15. This is only a modest drop from the near-maximum Level 19 surcharge applied in late April.
Under Level 18, airlines can add fuel surcharges ranging from P593 to P1,734 for domestic routes, and from P1,958.44 to P14,561.87 for international flights. In comparison, the Level 19 rates that expired on April 30 ranged from P627 to P1,834 domestically and from P2,070.77 to P15,397.15 internationally.
The slight easing follows a dip in global jet fuel prices, which averaged $184.63 per barrel as of April 17, according to the International Air Transport Association. That is down from a peak of $209 per barrel in early April, but still far above pre-war levels below $100 per barrel.
The CAB sets fuel surcharge levels every 15 days based on recent jet fuel prices. Despite the reduction, fares are expected to remain steep as the conflict in the Middle East continues to pressure oil markets.