Europe's largest all-cargo airline Cargolux this week said it would raise its fuel surcharge by 5 euro cents to 55 euro cents per kilo on all cargo shipments, effective May 5.

The average cost of jet fuel rose more than 8 cents to just over $2.00 per gallon in Europe over the past week. The closely watched Lufthansa Cargo Current Fuel Price Index rose 4.1 percent to 377 at the end of the second week of April, up 15 points from the week before and 34 points - or 10 percent - since March 24.