(Photo: Yonhap News)
Industry sources say South Korean airlines will raise fuel surcharges on international routes next month on the back of rising jet fuel prices.
Starting June 1, the surcharge for one-way tickets on international routes are expected to range from 3,600 won to 20,400 won.
The surcharge for this month varies from 1,200 won to 9,600 won.
Rising jet fuel prices prompted local air carriers to begin imposing fuel surcharges in April after a one-year hiatus due to low oil prices sparked by the COVID-19 pandemic.
If the average jet fuel price on the Singapore spot market rises over $1.50 per gallon during the last month, South Korean airlines are allowed to impose fuel surcharges starting one month later.
But if jet fuel prices drop below the threshold, no surcharge is collected.
Jet fuel prices on the Singapore market averaged $1.67 per gallon between April 16 and Saturday, up from $1.55 a month earlier.
Meanwhile, fuel surcharges on domestic routes will remain unchanged at 2,200 won in June.
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