CAB maintains Level 4 passenger fuel surcharge in January

The Civil Aeronautics Board (CAB) announced that the passenger fuel surcharge will remain at Level 4 in January, marking the sixth consecutive month without change.

This steady Level 4 surcharge will translate to a range of P117 to P342 for domestic flights and P385.70 to P2,867.82 for international flights originating from the Philippines.

The fuel surcharge is determined by the Mean of Platts Singapore (MOPS) benchmark for jet fuel prices.

Recent data indicates a 3% decline in jet fuel prices for the week ending December 12, and a 12.3% year-on-year drop.

Airlines are projected to achieve a net profit of $36 billion this year, largely due to passenger revenue and stable jet fuel prices.

For airlines collecting surcharges in foreign currency, the January rate will be P58.91 per dollar.