Weekly Petroleum Report

[BoeingBoy]

Since my weekly petroleum reports are late this month due to my work schedule, I'll just give the numbers again. For anyone who would like to read this past Wednesday's EIA report, go here.

Spot prices for jet fuel.....8/12......8/05.......7/29.......7/22.......7/15.......7/08.......7/01
New York Harbor.........$1.9550 $1.7430 $1.6750 $1.6115 $1.6713 $1.7230 $1.7323
Gulf Coast...................$1.9450 $1.7230 $1.6645 $1.6350 $1.6450 $1.7005 $1.7060
Los Angeles................$2.0975 $2.0050 $1.8250 $1.7000 $1.7100 $1.7700 $1.7900

Spot prices for crude......8/12.....8/05.....7/29.....7/22.....7/15.....7/08.....7/01
WTI Cushing................$66.71 $62.44 $60.71 $57.75 $58.36 $59.71 $59.11
Brent...........................$67.26 $60.73 $59.77 $56.98 $56.98 $59.00 $56.41

Current crude prices:

WTI Cushing...$65.35 (close on 8/19/05)
Dated Brent....$64.54 (close on 8/19/05)
NYMEX............$65.35 (close on 8/19/05)

Finally, average spot prices of jet fuel by month (by quarter once the quarter is over):

Delivery point....1Q05......2Q05......Jul05.....Aug05*
NY Harbor...... $1.4861 $1.5833 $1.6859 $1.8200
Gulf Coast..... $1.4400 $1.5649 $1.6647 $1.7995
Los Angeles.. $1.5228 $1.7008 $1.7525 $2.0125
* thru Aug 16

Jim

 

[WorldTraveler]

No US airline's business plan works at those fuel prices - current or future. Airline losses will increase as Labor Day passes.

How each carrier is handling it:

AA - sitting on the sideline watching everyone else meltdown; has no choice but to revamp business plan in the near future.

CO- also on the sideline but knowing they have to move sooner than AA.

DL - working on the Hail Mary business plan rework which could be either what keeps them out of BK or guides them through it

NW - taking the risky, confrontational approach to cost control; lose-lose situation for just about all involved although NW has a very small chance of cutting costs, shrinking ops, AND staying out of BK.

UA - sitting on sidelines in BK; undoubtedly will have to rework business plan based on DL and NW reworked business plans.

US - hoping the marriage can happen before the bottom falls out; further cuts at combined US/HP certain.

 

[US AIRWAYS FAN]

Gas prices are just sickening. I am scared to even know what is going to happen during the 4th and then the 1st quarter of next year.

WorldTraveler....you forgot about IFLY (Atlantic Coast Airlines). I don't think we will have to worry about them much longer actually.

 

[WorldTraveler]

Fan,
I hope you are right about FlyI but for some reason some bone-headed European company keeps giving them more money.

It's one thing for airlines like US to suffer in the process of transformation; it's quite another when a company like FlyI starts business with a plan that everyone said would never work. Now that we are at the point of failure, let's push them off the scene and provide a little help to valid businesses like the legacy airlines that actually have a chance of being viable, long-term businesses.

 

[Mtnman928]

Gas prices are just sickening.  I am scared to even know what is going to happen during the 4th and then the 1st quarter of next year.

WorldTraveler....you forgot about IFLY (Atlantic Coast Airlines).  I don't think we will have to worry about them much longer actually.

[post="290167"][/post]​

Not to mention the price of just about everything else that needs to be trucked, sent by rail or air.

Mtnman