After Carnival took away the fuel supplement, they said they could re-instate it should oil prices rise about $70/barrel. Well, over the past couple days they did rise above that level. However, Carnival issued a statement saying they wouldn’t re-instate the supplement due to economic conditions. I’m sure if prices continue to rise they will re-instate it, but for now, we’re still good!
At the time we suspended fuel supplements for our six North American brands, we reserved the right to reinstate them if the price of light sweet crude oil, according to the NYMEX, should increase above $70 per barrel. While we have now exceeded that threshold, in light of the economic crisis and resulting consumer weakness, we presently have no plans to institute a fuel supplement. We will continue to monitor the situation in the markets and review our position as the situation warrants.
