Continental Airlines increases fuel surcharge

Continental Airlines today announced an increase in the existing fuel surcharge on select tickets effective immediately.

The surcharge has been raised from $10 USD each way to $15 USD each way for travel in the U.S. and between the U.S. and Canada.

Continental's fuel expense last year was more than $1.2 billion, and current fuel prices will make the airline's 2004 fuel expense dramatically higher. The higher surcharge will help offset higher jet fuel prices. 

Just a little over two years ago, the price of crude oil was under $20 per barrel. The price for that same barrel of crude oil recently exceeded $37 per barrel - a jump of 85 percent.