January 20, 2016 / 10:25 AM / 5 years ago

Hong Kong to stop airlines levying fuel surcharges from Feb 1

HONG KONG, Jan 20 (Reuters) - Hong Kong’s Civil Aviation Department (CAD) said on Wednesday it will no longer allow airlines with flights originating from the city to levy passenger fuel surcharges from February 1, given the sharp drop in fuel prices.

U.S. crude wallowed at its lowest since 2003 on Wednesday after the world’s energy watchdog the International Energy Agency warned the market could “drown in oversupply”.

“In view of the fact that aviation fuel prices in the past months have greatly reduced and stabilised to a reasonable level ... the CAD considers that the levying of passenger fuel surcharges is not warranted,” the department said in a statement. (Reporting By Donny Kwok and Anne Marie Roantree; Editing by Tom Hogue)

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