News for Week of June 26th
June 24, 2011
Oil Price Drop Good for Cruisers
The price of crude oil has declined by more than 20% over the past few weeks climaxed by a precipitous $7 dollar drop in the last two days. This is good news for cruisers. The cruise lines have been holding a potential fuel surcharge over our heads for the past year. The decline in oil prices, combined with a sputtering economy, virtually insures that the cruise lines will not impliment a fuel surcharge over the near and medium term (as long as the oil producing countries remain stable).