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The airlines, after being financially burned by their fuel hedging programs when oil prices crashed late last year, are back into the futures markets to stabilize prices and allow them to plan. With oil and fuel prices rising more than 60 percent in the recent months, this planning eliminates much of the volatility airlines face.
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And you know what that means. Higher prices at the pump. More airline and cruise fees. Maybe even the return of dreaded fuel surcharges.
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Here’s a gift every traveler will appreciate.
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Passengers are being faced with a spiraling list of airline fees for everything from a bottle of water to a charge for a blanket and pillow. Seemingly small handouts that were once taken for granted, now come with a fee attached. Experts feel some of these fees will stick and others may be rescinded.
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Bob Crandall, the former chairman and chief executive at American Airlines, thinks the airlines are wrong — and he’s not afraid to say it.
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According to Stratfor.com the price of oil should begin falling this year. Most of the geopolitical factors driving the price oil are stabilizing, the U.S. dollar is expected to rebound and new oil resources are coming online.
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Crude oil prices surged to a new record high on Monday above $117 a barrel.
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The CEO of Northwest Airlines, Doug Steenland, calls skyrocketing oil prices a “serious budget-breaker.” Don’t look now, Doug, but the price of oil rose above $108 a barrel today.
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