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Oil hits $70 BBL
As of close of business today, the price of oil on the NYMEX closed at
$70.01 per bbl. Technically, when that price point is reached, many cruise lines have the legal right to re-impose fuel surcharges. Will they? Won't they? If so, how much? It is going to be interesting to see how they handle this. -- George Leppla http://www.CruiseMaster.com Cruise Specials Weblog http://cruisemaster.typepad.com/my_weblog/ September 19, 2009 Carnival Glory http://www.cruisemaster.com/glory.htm January 10, 2009 Southern Caribbean http://www.cruisemaster.com/caribprin.htm October 16, 2010 OASIS http://www.motherofallgroupcruises.com |
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Oil hits $70 BBL
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Oil hits $70 BBL
[Default] Thus spake "George Leppla" :
As of close of business today, the price of oil on the NYMEX closed at $70.01 per bbl. Technically, when that price point is reached, many cruise lines have the legal right to re-impose fuel surcharges. Will they? Won't they? If so, how much? It is going to be interesting to see how they handle this. The Royal Caribbean press release said that if the price went over $65/bbl, the supplements would be applies in accordance with the previously announced schedule. Which was based on the closing price two weeks before the beginning of the next calendar quarter. ie, June 17th for the 3rd quarter and September 17th for the 4th. WTI closed down .64 on Friday and some analysts were saying that profit taking might ensue over the next week or so. -- - dillon I am not invalid "Gee, Jimmy,I'm sorry to hear that your girlfriend turned out to be a Cylon." -Special Agent Tim McGee, "NCIS" |
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Oil hits $70 BBL
Even though I have personally noticed lower prices at the gas pump, George
is correct... cruise line can implement their fuel surcharge again, basically, if the price of oil is $70+ a barrel. At the recent Carnival FAM (Fun Weekend), they talked quite extensively about their "Early Saver Program," which are guaranteed to be the lowers prices available anywhere. However, that does not necessarily protect one should this fuel surcharge needs to be implemented again. The bottom line is, if the cruise lines need to add this once again, we are all going to pay for it. Smooth sailing to all... John |
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