Fuel price flying off the handle
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The airline industry is expected to lose as much as $4-b in 2004 due to the high fuel costs, despite an increase of about 19% in international passenger traffic so far this year.
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Gas prices nudged upward about half a penny in the last two weeks after dropping more than 20 cents since May 21, but another price spike is not expected due to a decline in crude oil prices, an industry analyst said Sunday.
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WASHINGTON - Oil prices cruised above $55-a-barrel yesterday as concerns about the global supply of winter fuels persist ahead of the Northern Hemisphere winter.
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Oil prices held firm on Friday after  leaping almost $2 a day earlier on news U.S. crude stocks sank  to a five-month low last week and distillate fuels barely grew  ahead of winter.
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Qantas Airways has raised its fuel surcharge on domestic and international tickets by $4 and $7, respectively, because of the high price of oil.
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The price of plane tickets is about to rise as travellers are forced to pay for the soaring cost of oil.
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The average U.S. retail price of  gasoline fell slightly over the last two weeks to about $1.86 a  gallon, restoring a trend of declines after a modest increase  late last month, according to the nationwide Lundberg survey of  about 7,000 gas stations released on Sunday.
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Rising crude oil costs are taking a toll on U.S. consumers, as the national price for gasoline jumped 5.1 cents a gallon over the last week and diesel fuel hit a record high, the government said on Monday.
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Gasoline prices plunged more than 21 cents a gallon over the past two weeks to a national average of $2.66 amid an abundant supply of fuel at service stations, a national survey said Sunday.
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Oil prices made fresh gains on Friday  after leaping almost $2 a day earlier the U.S. government said  crude stocks sank for the sixth straight week last week and  distillate fuels barely grew ahead of winter.
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Air New Zealand has confirmed it is hiking up the fuel surcharge on airfares sold from September 2nd. The surcharge applied to flights on regional Link services will double, to $6 per one-way journey.
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The price of a gallon of gasoline in the United States fell over the last two weeks during a seasonally slow consumption period, according to an industry analyst.
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The national price for gasoline  increased 5.5 cents over the last week to $1.993 a gallon, the  highest pump price ever in October, while diesel fuel set a  record for the third straight week, the U.S. government said on  Tuesday.
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Oil prices held firm Friday after leaping almost $2 a day earlier on news US crude stocks sank to a five-month low last week and distillate fuels barely grew ahead of winter.
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Crude futures prices seesawed Wednesday morning after the government and industry gave conflicting views on the nation&#39;s inventory of distillate fuel, which includes heating oil.
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In mid-May with gasoline prices at $2.95 a gallon and rising, 15 percent of Americans listed high fuel prices as their top concern, outstripping terrorism. And much of the public seemed ready to vent its wrath on President Bush and the Republican-led Congress. According to this theory, the... Are...
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WASHINGTON &#151; Oil prices charged toward $50 a barrel yesterday, and gasoline prices surged to $1.92 a gallon last week, as petroleum output in the Gulf of Mexico returns at a slower-than-expected rate after Hurricane Ivan, and geopolitical unrest keeps traders on edge.