With jet fuel prices continuing to soar, Israel's national carrier El Al has announced that ticket prices will increase by 5% on average. It's the carrier's tenth rate hike since April 2007.

El Al's veep for commercial and aviation ties, Rami Levy, says the adjustment will apply to tickets purchased after July 14, and that the increase would be applied to the fuel surcharge element of the ticket price.

The fuel surcharge for tourist-class tickets will increase by $20 for nearby destinations in the Mediterranean area, $30 for legs to other destinations in Europe, and by $50 for segments to more distant destinations like the US and the Far East.

The surcharge increase will be double for business-class tickets, but for the meantime will not apply to members of El Al's Matmid frequent flier program.

"The increase is minimal, and has become necessary with the rising price of fuel," Levy said. "Oil prices have soared by nearly 20% since El Al last adjusted its prices, and oil is now $137 to $145 per barrel."

Levy argues that the airline's price adjustment is considerably less than the rate of increase in the price of oil. "El Al is careful to maintain competitive price levels in comparison with the market in general, and makes adjustments to the basic rate necessary. At the same time, prices will remain attractive for the business sector, which travels extensively," he said.