Oil Clog

Airfares will go up by up to US$ 10 per sector from Wednesday, as carriers try to cover rising fuel costs.
Fuel prices since January have shot up from 86 US cts to 106 US cts in March ignited by the rising tension in the Middle East. rn

rnAirfares to India will only go up by US$ 5 per sector, while all other routes will see a US$ 10 increase one way. The revised fares are applicable to SriLankan and Emirates Airlines. rn

rnIn an previous interview with Lanka Business Online SriLankan Airlines CEO, Peter Hill said “This is not a decision we took on our own. We met representatives from all airlines before taking a decision to raise airfares.”rn

rnFrom March 1, airlines operating from the Gulf and Hong Kong regions have also added a US$ 5 endash US$ 13 fuel surcharge per sector, while other carries are awaiting approval from their governments to join the fray.rn

rnAirfares are likely to go up further as worldwide insurers have hinted on raising insurance premiums in the event of a Gulf war. rn