Good news, travelers: Lower airfares expected in February
Attention, travel lovers! You can expect cheaper airfares in February as the Civil Aeronautics Board (CAB) will lower its fuel surcharge for the second time in a row.
In an advisory, CAB said the passenger and cargo fuel surcharge for both domestic and international flights will go down from Level 6 to Level 5 next month.
Under this rate, the fuel surcharge for domestic flights will range from P151 to P543, while international trips will have a fuel surcharge amounting to P498.03 to P3,703.11, depending on the distance.
This fare is significantly cheaper than the current Level 6, where air travelers pay between P185 and P542 for domestic travel and P610.37 and P4,538.4 for international flights.
Carriers must follow the conversion rate of P55.64 to $1 for airfares that are paid in foreign currency next month.
CAB said airlines who will impose the new fuel surcharges are required to submit their application on or before the effectivity period.
This would be the second time in a row that the office will lower fuel surcharges, which depend on the prices of jet fuel.
Fuel surcharges are additional fees to the base fares. They help airline companies cover costs and cope with the ever-changing prices of jet fuel.