Airfare Prices Drop Ahead of Vacation Season as Fuel Surcharge Decreases

As fuel surcharges decrease, international airfare prices are expected to drop slightly next month.
 
According to industry sources on May 18, tickets issued for June will apply a fuel surcharge of 27 stages (ranging from 410 to 419 cents per gallon). This marks a reduction from the 33 stages (over 470 cents per gallon) applied this month.
 
The fuel surcharge is an additional fee airlines impose to offset losses incurred from rising oil prices.
 
The reduction in surcharge stages is due to the average price of Singapore jet fuel (MOPS) falling to 410.02 cents per gallon, based on data from April 16 to May 15.
 
Domestic airlines plan to sequentially adjust fuel surcharges by route in accordance with this change. Korean Air, for instance, charged a minimum of 75,000 won to a maximum of 564,000 won for one-way flights this month, but will reduce these charges to a minimum of 61,500 won and a maximum of 451,500 won in June, resulting in a potential decrease of up to 112,500 won.
 
Asiana Airlines will set its international fuel surcharge for next month at a minimum of 68,000 won and a maximum of 382,800 won for one-way flights, reflecting a decrease of up to 93,400 won compared to May's rates of 85,400 won to 476,200 won.