LONDON , England ( CNN ) -- British Airways and Virgin Atlantic have announced they are reducing their fuel surcharges as the price of oil has plummeted . Passengers on long-haul flights will enjoy the biggest reduction in fares . Both airlines said the cuts , effective Thursday , reflected the lower price of oil , and BA also credited its fuel hedging policy . It means BA passengers will pay £30-35 ( $ 46-54 ) less on flights longer than nine hours , and £15-20 ( $ 23-31 ) less on shorter flights , the airline said . European services will cost £4-5 ( $ 6-7 ) less , BA said . Virgin Atlantic passengers will see similar reductions in the ticket price , the airline said . The fuel surcharge helped airlines pass the high cost of oil on to their passengers . As prices have dropped from a record high in the summer , airlines have been under pressure to cut the fee . This the second fuel surcharge reduction for BA . It first cut the charge in October .
BA , Virgin Atlantic reduce fuel surcharges by 30 on long-haul flights . BA : Cut reflects reduction in oil prices and the airline 's fuel hedging policy . Flights of longer than nine hours will cost £ as much as a third -35 ( $ 30 -54 ) less .