Cathay, EVA Lift Air Cargo Fuel Surcharges From August 1 as Jet Fuel Jumps 35%

Summary

Airlines began pushing through sharply higher cargo fuel surcharges on August 1, 2026 after jet fuel prices climbed roughly 35% from the first week of July, with the benchmark averaging $160.06 per barrel on July 24 versus $119.13 earlier in the month. Cathay Pacific raised long-, medium- and short-haul cargo surcharges by 50-55%, while EVA Air lifted long-haul levies by 20% on the same date; ANA and JAL are following, though Korean Air cut its surcharge for a third consecutive month. Underlying spot rates have not yet followed, with China-North America at $6.36/kg and China-Europe at $5.03/kg, and Freightos showing U.S.-China easing from $6.56/kg to $5.72/kg.