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Old November 13th, 2008, 12:47 AM
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Default What's the rule for oil below $70.00

I've heard below $70 for 1 month before cruise, and just for 30 days in a row before cruise.
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Old November 13th, 2008, 12:54 AM
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Default Re: What's the rule for oil below $70.00

Quote:
Originally Posted by upsman1986
I've heard below $70 for 1 month before cruise, and just for 30 days in a row before cruise.
Here is Carnival's official statement:

"I am pleased to update you on some new and important information regarding the fuel supplement for Carnival Corporation & plc brands. Six of our brands, Carnival Cruise Lines, Costa Cruises, Cunard Line, Holland America Line, Princess Cruises and The Yachts of Seabourn have announced that effective October 31, 2008, the existing fuel supplement will be eliminated for all new bookings on 2010 departures."

And now the bad news: "At the same time, a price increase on 2010 sailings will become effective."

Additionally, the company has established specific guidelines under which the current fuel supplement may be reimbursed to consumers for 2008 and 2009 voyages. For 2008 and 2009 departures:

If the price of light sweet crude oil according to the NYMEX (New York Mercantile Exchange Index) is $70 per barrel or less at the 2:30 p.m. close of business as reported by Reuters on each of the 25 consecutive trading days ending five trading days prior to the guest's cruise departure date, the fuel supplement will be refunded in the form of a shipboard credit.

Guests who book a 2010 cruise prior to Oct. 31, 2008, will still be charged the current fuel supplement but will also be eligible for a refund of the fuel supplement in accordance with the same fuel price conditions that are being implemented for current 2008 and 2009 departures.



Carnival Corp. is implementing these initiatives due to recent trends in declining fuel prices in an effort to migrate away from charging a separate fuel supplement. If fuel prices stabilize below $70 a barrel, they will be able to effectively eliminate the fuel supplement.

"However, there is still a risk that fuel prices could move higher which would require us to maintain or reinstate a fuel supplement but we are hopeful that the goal of eliminating the fuel supplement can be achieved," Carnival says. "These industry-leading initiatives clearly demonstrate our commitment to our guests and travel agents to make our brands the most attractive cruise vacations available. Most importantly, we want to thank you for your continued support."

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Old November 13th, 2008, 10:33 AM
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Default Re: What's the rule for oil below $70.00

Quote:
Originally Posted by upsman1986
I've heard below $70 for 1 month before cruise, and just for 30 days in a row before cruise.
They are trying to confuse you. It's 25 trading day less the last 5 trading days before your cruise, that is why you have to go back 30 trading days (as far as I know it's not traded on the weekend). As Mike has said Light Sweet Crude Oil is traded on the NYMEX (New York Mercantile Exchange Index). They have different trading days then the New York Stock Exchange or the Nasdaq. Here is a link to oil prices. You are looking at the price for the close of the day.
http://www.reuters.com/finance/commodity?symbol=US@CL.1
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Old November 13th, 2008, 06:34 PM
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I have a thread with all the prices. I change the title everyday. So it will say "Oils been down for ___ days- ____ days to go! And it is by spencercoop
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