Oil closes above $70

[Happy2Cruise4Fun]

Guess we will find out how Princess will handle the fuel surcharge now since oil has closed above their stated mark.

[mii]

Guess we will find out how Princess will handle the fuel surcharge now since oil has closed above their stated mark.

 

Now it down 4 cents so will wait until the Wall St. closes at 1p.m. our time PST.

 

Marilyn

[paul929207]

Last year,Princess was usuing the closing price on the NY Mercantile Exchange. I think that closes at 2:30 pm EDT.

[Happy2Cruise4Fun]

Now it down 4 cents so will wait until the Wall St. closes at 1p.m. our time PST.

 

Marilyn

 

 

NYMEX closed at 315 EST, oil ended at $70.01 per barrel.

[Toto2Kansas]

Whether it happens today, tomorrow or next week, we all knew this was coming sooner than later. :(

[Happy2Cruise4Fun]

Whether it happens today, tomorrow or next week, we all knew this was coming sooner than later. :(

 

 

The big question is with the way their policy is written. Technically those cruising now could be hit with the charge against their ship board accounts as well as upcoming cruises. The surcharge could be added to all cruises, even if oil goes back down below $70 tomorrow. Or they could do nothing and let it just slip right by.

 

I think it is the open ended policy statement from Princess that is the issue. Will I cancel my cruise in 6 days, nope, just won't purchase as much on the ship if they reinstate. It is budgeted, but just how much extra depends on the surcharge.

[Toto2Kansas]

The big question is with the way their policy is written. Technically those cruising now could be hit with the charge against their ship board accounts as well as upcoming cruises. The surcharge could be added to all cruises, even if oil goes back down below $70 tomorrow. Or they could do nothing and let it just slip right by.

 

I think it is the open ended policy statement from Princess that is the issue. Will I cancel my cruise in 6 days, nope, just won't purchase as much on the ship if they reinstate. It is budgeted, but just how much extra depends on the surcharge.

 

It wouldn't surprise me if there isn't a statement placed on the Princess website within the next 24 hours or so, explaining how this will be handled. Up until then, we are all only speculating. ;)

[Jfultz81]

LOL.. NYMEX's website says 70.00 even.. lets hope it decides to go back down tomorrow!

[J 'B' Cruisin']

You gotta love Wall Street. The fat cats with lots of money have artificially driven up the price of oil again despite record supplies and a big cushion between current production and the maximum capacity of production. I'm not bitter at all as I saw this coming again as well and budgeted for it but the sooner we get oil off the market, the better. Speculation and the pathetic dollar are driving oil. Simplistic laws of supply and demand aren't working here...it's a shame.

 

Luckily I won't care about the price of oil while I'm enjoying my cruise but maybe we'll get lucky and Princess won't pounce on a price hike. If you think about it, typically oil is purchased in futures from people who use large quantities so it's likely that the current price of oil isn't affecting Princess as much since their bottom line should be good having bought a lot of their oil while it was way down 6 months ago. Like many have said, it won't ruin their cruise, they'll just spend less on the ship and on excursions which Princess nor the other cruise lines want to see happen.

 

Jason

[RealDeal]

But doesn't it have to stay above or below $70 before they change their fuel surcharge policy?

[Happy2Cruise4Fun]

But doesn't it have to stay above or below $70 before they change their fuel surcharge policy?

 

Just close above the $70 mark.

[skidawg79]

I was recently reading an article on i think it was usa today or something like that and this is basically what it said. Im recalling this from memory (i coudlnt find the article again) but it said that Princess and Carnival Corp. are most likely not going to put the fuel surcharge on right away. When they innitially put the fuel surcharge on, oil was already above $100/barrel with no end in sight. Also, the innitial charge was $5 per person, not $9. So, lets all try to stay positive and hope that oil stays about where it is or comes back down and we won't have to pay the surcharge! ;-).

 

Now that i said that, i probably already have an email stating that they are reinstating it...haha.

[paul929207]

Until Princess Cruiss or Carnival Corporation announces something, all this is just idle speculation.

[RealDeal]

I just read on another thread that they can't impose it on cruisers within 5 days of sail date. Anyone know if that's true? (I'm sailing in 2 days...)

[Jfultz81]

Until Princess Cruiss or Carnival Corporation announces something, all this is just idle speculation.

 

Isn't speculation what causes the prices to go up? LOL :D

[Sandytoes]

I can't believe another post about the fuel.

Geez~~~

 

Can't people let sleeping dogs lie? :rolleyes:

[easykruz]

I just read on another thread that they can't impose it on cruisers within 5 days of sail date. Anyone know if that's true? (I'm sailing in 2 days...)

 

If you get charged please let us know.:confused:

[donscomp]

Until Princess Cruiss or Carnival Corporation announces something, all this is just idle speculation.

 

Agree.

 

But lets be the first one to post every time it closes above 70.00 Geeeeez

As stated above. It's gona happen. Not like last time. But I bet above 70.00 for a while. See? I'm even speculating. LOL

[mii]

I can't believe another post about the fuel.

Geez~~~

 

Can't people let sleeping dogs lie? :rolleyes:

 

It is unbelieveable isn't it. We ALL knew that this may happen anytime so now that it hit 70.00 some people on here are speculating and what is funny is Princess has said nothing yet.

 

Marilyn

[NanaCyn]

If they do charge it....Are you going to cancel your cruise? Don't "borrow worry" as my gramma would say.... Enjoy planning your cruise....If it happens...it happens. :):)

[paul929207]

I just read on another thread that they can't impose it on cruisers within 5 days of sail date. Anyone know if that's true? (I'm sailing in 2 days...)

Nothing on the website sets any limit on who can be charged. Although I doubt it will happen, the statement indicates even someone sailing could be charged. Thsi is the statement that has been on the Princess website for months:

 

As fuel prices continue to decline, Carnival Corporation has announced that it will suspend fuel supplements for its six North American brands, including Princess Cruises, for all voyages departing on or after December 17, 2008.

 

For these sailings, a refund of the fuel supplement will be made in the form of a shipboard credit for all bookings within the final payment period. All bookings outside of the final payment period will be adjusted to remove the fuel supplement, and passengers will be provided with a revised final payment amount.

 

The company reserves the right to re-instate the fuel supplement for all passengers at up to $9 per person per day if the NYMEX oil price exceeds $70 per barrel even if the fare has already been paid in full.

[srpilo]

I can't believe another post about the fuel.

Geez~~~

 

Can't people let sleeping dogs lie? :rolleyes:

 

What ???

 

This could affect virually every single person who posts on CC, and what you don't think it's worthy of another thread ??

 

Pleaseeee !

[MMDown Under]

 

The company reserves the right to re-instate the fuel supplement for all passengers at up to $9 per person per day if the NYMEX oil price exceeds $70 per barrel even if the fare has already been paid in full.

 

It is this statement which must be effecting future bookings.

[Sandytoes]

:D

 

What ???

 

This could affect virually every single person who posts on CC, and what you don't think it's worthy of another thread ??

 

Pleaseeee !

 

And???? :rolleyes:

 

What's the sense of opening up a can of worms? :cool:

 

The less we speak of the fuel maybe

Princess won't notice...;) :p

[wizard-of-roz]

You gotta love Wall Street. The fat cats with lots of money have artificially driven up the price of oil again despite record supplies and a big cushion between current production and the maximum capacity of production. I'm not bitter at all as I saw this coming again as well and budgeted for it but the sooner we get oil off the market' date=' the better. Speculation and the pathetic dollar are driving oil. Simplistic laws of supply and demand aren't working here...it's a shame.

 

Luckily I won't care about the price of oil while I'm enjoying my cruise but maybe we'll get lucky and Princess won't pounce on a price hike. If you think about it, typically oil is purchased in futures from people who use large quantities so it's likely that the current price of oil isn't affecting Princess as much since their bottom line should be good having bought a lot of their oil while it was way down 6 months ago. Like many have said, it won't ruin their cruise, they'll just spend less on the ship and on excursions which Princess nor the other cruise lines want to see happen.

 

Jason[/quote']

 

I'm no Philadelphia lawyer, but, you have made the most sense of all!