UK: Airlines accused of 'profiteering' from fall in price of fuel

Airlines have been accused of “profiteering” and “exploiting” passengers after failing to pass on the full savings in the price they pay for jet fuel to their customers. Latest figures show the price of jet fuel has fallen by 70% in the past 2 years, yet the average cost of a transatlantic airline ticket has been cut by just 2% over the same period. Some airlines are even continuing to impose a fuel surcharge on certain routes, a mechanism originally intended to be used when the price of fuel goes up unexpectedly. Now consumer groups and MPs have called on airlines to pass on the full reduction in the price of jet fuel to passengers in the form of cheaper flight tickets. Graham Stringer, a Labour member of the Parliamentary transport select committee, said it should be “exposed what a rip-off air fares are at the moment” so that consumers can make an informed choice. <br/>