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Oil Down: Too Early To Cheer!  
User currently offlineScotron11 From United Kingdom, joined Feb 2004, 1178 posts, RR: 3
Posted (10 years 2 weeks 6 days 19 hours ago) and read 1996 times:

The price of oil fell over $3 yesterday to their lowest in three years. This must be great news for all airlines.

Hopefully the price will fall another $3 today.....early xmas present for all (wishful thinking)

Anyhoo...I hope the trend continues down.....say a respectable $30/BBL....I think everyone can live with that.

By the by, gasoline here in the UK is an average 82p ($1.59) a LITER....approx $6.20 a gallon! Pretty ridiculous, huh?

11 replies: All unread, jump to last
 
User currently offlineAMS From United States of America, joined Aug 2003, 1692 posts, RR: 11
Reply 1, posted (10 years 2 weeks 6 days 19 hours ago) and read 1988 times:

By the by, gasoline here in the UK is an average 82p ($1.59) a LITER....approx $6.20 a gallon! Pretty ridiculous, huh?

Well, still not bad!....Here in the Netherlands you pay EUR1.25 a liter ($1.71)
which is about $6.50 for a Gallon!

Regards,
AMS


User currently offlineDakotasport From Canada, joined Dec 2000, 228 posts, RR: 0
Reply 2, posted (10 years 2 weeks 6 days 17 hours ago) and read 1930 times:

Oil's down compared to what?? It's still wayyyy to high for ANY company, not only airlines, to be very profitable!

User currently offlineScotron11 From United Kingdom, joined Feb 2004, 1178 posts, RR: 3
Reply 3, posted (10 years 2 weeks 6 days 17 hours ago) and read 1915 times:

Yup...but it's a step in the right direction........down!

User currently offlineCanadianNorth From Canada, joined Aug 2002, 3395 posts, RR: 9
Reply 4, posted (10 years 2 weeks 6 days 14 hours ago) and read 1837 times:

yaaay I can afford to snowmobile again!!!!!!!

Gas in Whitehorse has been parked at 99.9 forever and a week, and it has finally gone down to 96.9....





CanadiaNorth



What could possibly go wrong?
User currently offlinePanAm747 From United States of America, joined Feb 2004, 4242 posts, RR: 8
Reply 5, posted (10 years 2 weeks 6 days 13 hours ago) and read 1819 times:

I hate to be the Grinch who steals everyone's $99 roundtrip tickets, but...

Oil prices always rise at the drop of a hat, but they NEVER fall rapidly. It will take months for any significant price change at the pump to appear.

Being a Californian, I can tell you from experience - crude oil prices might drop, but the refineries keep their capacity low and prices high. There's always the occasional spike due to "planned maintenance" or "unavoidable shutdown".

Same with jet fuel - the ball is in the refiners' hands, not the producers. I honestly don't think there will be any kind of significant drop in prices at all.



Pan Am:The World's Most Experienced Airline - P(oor) S(ailor's) A(irline): San Diego's Hometown Airline-Catch Our Smile!
User currently offlinePlanespotting From United States of America, joined Apr 2004, 3539 posts, RR: 5
Reply 6, posted (10 years 2 weeks 6 days 9 hours ago) and read 1751 times:

well, it has been many months since we have seen a significant price change at the pump. Here in oil country, haha, i paid $1.799 / gallon yesterday to fill up my car. However when i was in San Francisco last week, the cheapest cheap gas i saw was $2.39, and the most expensive of the cheap gas was $2.69. that is f-ing out-rage-ous


Do you like movies about gladiators?
User currently offlineTLIMA From Canada, joined Jan 2004, 78 posts, RR: 0
Reply 7, posted (10 years 2 weeks 6 days 6 hours ago) and read 1706 times:

$6.20 and $6.50 a gallon in Europe????  Wow! That is really insane!! I thought we had it bad down here in South Texas at $1.79/Gallon...

Hopefully the trend will continue with its downward sprirral.

Is is true that certain airlines (not sure which ones though) can actually "lock" on to their fuel prices for a period of time and not have to worry if the price goes up or down? Or was I just misinformed?

Thanx
TLIMA






- Meden Agan -
User currently offlineScotron11 From United Kingdom, joined Feb 2004, 1178 posts, RR: 3
Reply 8, posted (10 years 2 weeks 6 days 6 hours ago) and read 1684 times:

It's called hedging and some carriers do it quite well. Other carriers don't have the capital to tie in to long term contracts so are at the mercy of the market. Im sure if UA or US was able to hedge their losses wouldn't have been as bad. It doesn't mean you are immune from higher oil prices in the long run though!

User currently offlineM404 From United States of America, joined Nov 2003, 2230 posts, RR: 5
Reply 9, posted (10 years 2 weeks 6 days 5 hours ago) and read 1649 times:
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Population increase in industrial nations will always feed the price up. Advancing nations will always feed the price up. Product marketing and demand like the US SUV craze will feed it. Fighting between the haves and the have nots in poorer oil source nations will feed it. Filthy political parties in those nations will feed it. The set amount we have of oil sustains it. The rise of "Radical" religious extremists will feed it. Even annual weather changes feed it.

We better get used to it or decide how to get around it.



Less sarcasm and more thought equal better understanding
User currently offlineUnitedTristar From , joined Dec 1969, posts, RR:
Reply 10, posted (10 years 1 week 5 days 15 hours ago) and read 1560 times:

Interesting new article...made me think of this topic..thought I would share!

http://yahoo.businessweek.com/magazine/content/04_51/b3913051_mz011.htm


-m

 Big thumbs up


User currently offlinePHLBOS From United States of America, joined Mar 2004, 7558 posts, RR: 23
Reply 11, posted (10 years 1 week 5 days 15 hours ago) and read 1552 times:

The below web-article from today's Philadelphia Inquirer is an Associated Press report regarding OPEC cutting production next year.

http://www.philly.com/mld/inquirer/business/10381193.htm



"TransEastern! You'll feel like you've never left the ground because we treat you like dirt!" SNL Parady ad circa 1981
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