updated 12/9/2008 11:40:26 AM ET 2008-12-09T16:40:26

Airline Deutsche Lufthansa AG said Tuesday it would lower its passenger fuel surcharges as the cost of oil has fallen.

The Cologne-based airline said in a statement the surcharge would fall by 3 euros ($3.84) to 21 euros on domestic and short-haul tickets issued after December 16.

For long-haul tickets, the surcharge will fall by 10 euros to 82 euros.

The company regularly monitors the price of oil on the spot markets and adjusts its surcharges accordingly. The price of crude oil has fallen about 70 percent since peaking at $147.27 in July.

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