part 2,half year dec 31 oil averaged $57/barrel and fuel was 28%...

part 2,

half year dec 31 oil averaged $57/barrel and fuel was 28% of the operating cost

half year dec 31 oil averaged $75/barrel and fuel was 25.7% of the operating cost

i cant figure that one out but lets continue.

half year to june 08 oil will average $120/barrel which is a 60% rise from $75/barrel but vba forecast only a 35% rise in the fuel operating cost component to 35% from 25.7%

are they understating how much the rising cost of fuel really contributes to the operating expenses????......it could actually make up +40% of the operating costs rather than their muted 35%

interesting!!!!

cheers