According to the Daily Telegraph airlines are facing a £3bn loss unless oil prices turn. It can't be long before the first TOC squeals to the same tune.
As far as The Fact Compiler is aware only Arriva Cross Country hedged it's diesel costs for the entire life of the franchise.
Others have shorter deals which, if they haven't already, must soon be coming to an end. And with no obvious end to rising oil prices new hedges are getting hard to find.
Meanwhile the sagely head of the OECD claimed today that high oil prices send a clear signal to consumers and firms to curb their use of fuel.
Good news for the Government.
No longer do they need to price down passenger demand - they can just let the market starve the railway of fuel.
And no, electrification is not on the agenda
Grimsby and Back
2 years ago
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