.Qantas’s fuel bill is expected to jump from $3.7 billion Australian in 2011 before hitting $4.4 billion in 2012, according to experts
My god, I cant believe exactly how much Qantas actually consumes as a percentage of Australia's oil use. I know that Qantas refuels alot overseas, but as alot of its flights are domestic and or originate in australia, then I think we all get a fair idea of its fuel usage. A bill of $4.4 Billion at the current rate of about $115 (taking that 2011 are probably hedged at 2010 prices and 2012 at 2011 prices)for a barrel of kerosene equates to approx. 38,260,869 barrels a year /365 = 104,824 barrels a day. Australia currently only consumes approx. 1 million barrels a day, so qantas is accounting for about 10% of our fuel use.
Boy, wont the world become much bigger on the downslope of oil supply.