According to recent Korean media reports, Korean airlines
are likely to increase their fuel surcharges on international flights for July and August. However, the reports at the same time indicated that the rate of increase will likely slow amid easing fuel prices.
For round-trip flights to the US, Europe and Australia the fuel surcharges are likely to surge from the current US$280 to US$298. Besides, for flights to China and Southeast Asia the fuel surcharges are likely to increase to US$132, up US$8 from the current level.
The media reports citing the Ministry of Land, Transport and Maritime Affairs and industry sources said that the average price of jet fuel hovered at about US$3.16 per gallon on the Singaporean spot market from April to May 28, as compared with US$3.02 per gallon between February and March.
The Korean carriers will, however, be require to give notification of the jet fuel price changes a month before they go ahead with imposing fuel surcharges.