SIA Increases Fuel Surcharge By US$2 - US$4 per Sector

[Singapore_Air]

SINGAPORE AIRLINES TO INCREASE FUEL SURCHARGE

As a result of a sustained escalation in the price of jet fuel in the past two months, Singapore Airlines will increase its fuel surcharge for tickets issued on or after 1 April 2007. The new levels reinstate those applied prior to the reduction applied in January1:

• US$18 (up from US$16) per sector, for flights between Singapore and Kuala Lumpur, Bandar Seri Begawan, Bangkok, Denpasar, Hanoi, Ho Chi Minh City, Jakarta, Manila and Penang;

• US$82 (up from US$78) per sector, for flights between Singapore and gateways in the United States and Canada on a single-sector basis; and

• US$54 (up from US$52) per sector, on all other flights.
The price of jet fuel is now around US$76 per barrel, compared to US$67 per barrel when the surcharge was last revised in January.

Further, the gap between the price of jet fuel and the price of crude oil has remained wide, at close to 30 percent, where historically the gap was much smaller. This differential is driven by high demand for jet fuel.
Singapore Airlines will continue to monitor the price of jet fuel and keep the application of the fuel surcharge under active review.

[LukeGT]

But actually the oil price per barrel is about 60$ and it has not increased significantly in the last two months!!!!!

[Singapore_Air]

However, the high demand for jet fuel has pushed the fuel price index from 100 in 2000 to 209.3 or US$76 per barrel as of 09 March 2007. The current fuel price as of 09 March is 4% higher than in February 2007.

[TerryK]

It is funny that CX is lowering fuel surcharges from 01-Apr-07.

[YK@HKG]

More arrogance from the Golden Bird?