South Korean airlines are bracing for a significant increase in fuel surcharges for May flights, as global oil prices continue to rise amidst heightened tensions in the Middle East. According to industry sources, carriers will be implementing the highest level of surcharges based on the Mean of Platts Singapore (MOPS), which has averaged $214. 71 per barrel from March 16 to April 15.

Under the government-guided distance-based pricing system, fuel surcharges are adjusted monthly to offset the rising cost of fuel. The levels are determined based on the MOPS benchmark for refined petroleum products in the Asia-Pacific region. This month, the MOPS average has placed the surcharges in the top-tier Level 33 bracket, a significant jump from the Level 18 bracket in April.

This marks the steepest increase since the current system was introduced in 2016 and the first time the highest tier has been applied. The new surcharge levels will affect tickets issued in May, with travelers facing a substantial increase in fees.

Korean Air, the country’s largest full-service carrier, has announced that their international one-way fuel surcharge will rise to between 75,000 won ($50. 89) and 564,000 won for May. This is a significant increase from the previous range of 42,000 won to 303,000 won in April. On long-haul routes such as New York, Paris, and London, the surcharge will see an 86% increase, reaching 564,000 won.

Other major carriers, including Asiana Airlines Inc.and low-cost airlines like Jeju Air Co. , are also expected to announce their May surcharges in the coming days. Travelers are advised to purchase their tickets before the new surcharge levels take effect, as the fees are determined based on the ticket issuance date.

Overall, the sudden surge in fuel surcharges for May flights is a result of the continuous rise in global oil prices, driven by the ongoing tensions in the Middle East. The significant increase in surcharges is expected to have a significant impact on the travel industry in South Korea, with travelers facing higher costs for air travel.