When is Qantas going to stop its outrageous price gouging of customers with the absurd oil price surcharges?
Qantas lifted domestic and international surcharges in late April and then the international surcharges again on August 18, after world oil prices peaked at $US78.40 in early August
But oil prices have fallen sharply and closed under $US62 a barrel in New York overnight, the lowest level since the middle of March. In the meantime, Qantas’s share price has exploded, jumping 20% in the past month alone — $3.72 yesterday — as oil prices have fallen 20%. Qantas’s share price is now at its highest level since April.
There’s nothing like a bit of price gouging to rebuild profits depleted by the impact of higher oil prices, rather than protecting the airline from higher fuel bills.