I would have thought it prudent for a business using large amounts of fuel to use current prices as an opportune time to derisk itself for when oil prices rise to those peak levels again, which it will. Maybe not this year, maybe not next year, but my guess is the NST's of this world take a much longer term view than 1 or 2 years. They'd look pretty stupid if they say "no need to look at this now, oil prices are low, yippee", then in 2 years the price is above $120 and they've missed an opportunity.
I would have thought it prudent for a business using large...
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