Your Foreign Trips Will Cost More

According to a business insider, South Korean airlines are planning to increase fuel surcharges on international flights beginning next month as jet fuel costs climb at a quicker rate. Starting March 1, the fee for one-way tickets on international flights would vary from 18,000 won (US$15) to 138,200 won.

The increase will raise the surcharges from Level 6 to Level 10, which ranges from 10,800 won to 80,400 won. After a one-year break, rising jet fuel prices prompted local airlines to reintroduce fuel fees in April 2021. Due to low oil prices caused by the Covid-19 pandemic, fuel surcharges on international flights have been at zero since April 2020. Surcharges for local airlines vary as per the amount of jet fuel prices sold on the Singaporean market.

South Korean airlines are allowed to levy fuel surcharges beginning one month after the average jet fuel price on the Singapore spot market increases over $1.50 per gallon. On the Singapore market, jet fuel prices averaged $2.43 per gallon for the month of January 16 to February 15. For the month of March, the average price will be used to calculate jet fuel surcharges. If the price of jet fuel falls below the threshold, no extra is charged. Depending on the length of the route, there are ten different degrees of fees. Fuel surcharges on domestic routes will increase to 8,800 won from 5,500 won next month.