Fuel Surcharge Soars Amid Prolonged Iran War... Could Rise Up to Threefold

Due to the prolonged war between the United States and Iran, international oil prices and exchange rates have risen, and as a result, fuel surcharges are expected to increase significantly next month. This is likely to increase the cost burden on travelers.

Yonhap News

According to the airline industry on March 16, the average value of Singapore jet fuel (MOPS), which serves as the basis for next month's fuel surcharge (from February 16 to March 15), corresponds to step 18 out of a total of 33 steps. This is an increase of 12 steps in just one month, up from step 6 applied this month.

In October 2022, the fuel surcharge had risen to step 17 due to the Russia-Ukraine war. This marks the highest level in three years and six months. As a result, airlines are expected to raise the fuel surcharge imposed on tickets issued next month by more than threefold in some cases.

Asiana Airlines will apply a one-way fuel surcharge ranging from a minimum of 43,900 won to a maximum of 251,900 won next month. This month, the surcharge ranged from a minimum of 14,600 won to a maximum of 78,600 won. The amount of the fuel surcharge varies according to distance.

Korean Air is also scheduled to announce its fuel surcharge for April later this afternoon. The industry expects that, compared to this month's surcharge of 13,500 won to 99,000 won, the maximum surcharge for the longest routes will rise by more than 100,000 won.

The fuel surcharge is an additional fee imposed by airlines to compensate for losses caused by rising oil prices. In accordance with the Ministry of Land, Infrastructure and Transport's distance-based policy, each airline adjusts the surcharge independently and sets it on a monthly basis.

This content was produced with the assistance of AI translation services.