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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] International fuel surcharges are set to decline slightly as oil prices stabilize following a lull in the U.S.-Iran conflict, though airfare costs remain significantly higher compared to earlier this year.
According to industry sources on May 18, Korean Air has lowered its fuel surcharge level for tickets issued between June 1 and 30 to Level 27, down six tiers from the current month.
The adjustment reflects a nearly 20% drop in the average Singapore jet fuel price (MOPS), which fell to 410.02 cents per gallon during the latest calculation period, compared with 511.21 cents in the prior period.
Fuel surcharges are additional fees imposed by airlines to offset rising fuel costs and are recalculated monthly based on MOPS benchmarks, typically across 33 pricing tiers.
For June, Korean Air’s one-way fuel surcharge will range from KRW 61,500 for short-haul routes such as Qingdao and Fukuoka to KRW 451,500 for long-haul routes including New York and Washington. The surcharge for U.S. East Coast routes has decreased by KRW 112,500 from the previous month.
Despite the decline, surcharges remain significantly higher than pre-conflict levels. In February, the surcharge for U.S. East Coast routes stood at just KRW 76,500. Even after the June adjustment, round-trip fares to the region could cost passengers roughly KRW 750,000 more than earlier this year.
Similarly, major European routes continue to carry fuel surcharges that are nearly KRW 700,000 higher than at the beginning of the year, suggesting that international travel costs will remain a burden for summer vacationers despite the recent easing in oil prices.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
