Taiwan approves 8.3 pc hike in airline fuel surcharge
Taiwan has approved an 8.3 percent fuel surcharge hike by airlines from June 16 due to high global crude oil prices, aviation authorities said Tuesday.
By Agencies |
TAIPEI: Taiwan has approved an 8.3 percent fuel surcharge hike by airlines from June 16 due to high global crude oil prices, aviation authorities said Tuesday.
The Civil Aeronautics Administration (CAA) said the fuel surcharge per passenger for long-haul flights would rise to 84.5 US dollars from 78 dollars, while those for short-haul routes would rise to 32.5 dollars from 30 dollars.
"The increases are to reflect market reality," a CAA official said. He said the new fuel surcharges were calculated based on a two-month average of 157.44 dollars per barrel for aviation fuel, compared with a previous figure of 140.33 dollars.
The government has to authorise increases in the fuel surcharge, which last rose on May 15.
The move comes after Taiwan scrapped a freeze on gasoline prices and raised petrol costs in May by up to 16 percent.
Governments across Asia have been struggling to keep energy costs down, often with subsidies or price caps, following a record-breaking surge in crude oil prices.
The Civil Aeronautics Administration (CAA) said the fuel surcharge per passenger for long-haul flights would rise to 84.5 US dollars from 78 dollars, while those for short-haul routes would rise to 32.5 dollars from 30 dollars.
"The increases are to reflect market reality," a CAA official said. He said the new fuel surcharges were calculated based on a two-month average of 157.44 dollars per barrel for aviation fuel, compared with a previous figure of 140.33 dollars.
The government has to authorise increases in the fuel surcharge, which last rose on May 15.
The move comes after Taiwan scrapped a freeze on gasoline prices and raised petrol costs in May by up to 16 percent.
Governments across Asia have been struggling to keep energy costs down, often with subsidies or price caps, following a record-breaking surge in crude oil prices.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
