Aussie dollar and oil price plunge in wake of turmoil
There is good and bad news for Australian travellers in the financial turbulence affecting global markets.
The price of oil is tumbling and is likely to stay down, according to many energy analysts. Oil prices have shed 15 percent since the start of August.
Overnight, prices collapsed to the lowest level in the past year, settling around US$80 per barrel.
A prolonged dip in the price of aviation fuel should encourage airlines to lower surcharges.
The flip side of the coin is that the Aussie dollar has been mauled this week, sinking below parity with the US dollar just two weeks after trading at a post-float high of $US1.10.
The Aussie dropped more than three US cents today to trade at $US0.992, making overseas holidays and shopping more expensive.
Ian Jarrett
Have your say Cancel reply
Subscribe/Login to Travel Mole Newsletter
Travel Mole Newsletter is a subscriber only travel trade news publication. If you are receiving this message, simply enter your email address to sign in or register if you are not. In order to display the B2B travel content that meets your business needs, we need to know who are and what are your business needs. ITR is free to our subscribers.
































Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025