Airline operators, road transporters, courier companies, major farmers and players in the food industry have, since the beginning of the year, been under pressure to find the right strategy to cope with an unprecedented situation - the significant rise in petrol prices. Fuel hedging, creating a fuel index, securing independence from this volatility by investing in energy generation and biofuel production, price increases for some food products starting this summer are just some of the solutions thought up by players in various fields. "Ticket prices will increase under the impact of higher petroleum-related taxes, which will, in turn, affect demand. Whereas before we had low prices for 10 seats per aeroplane, now we operate such fares for just 2 seats," says Sorin Georgescu, marketing and sales manager of TAROM. As a survival strategy, Georgescu says players that have used fuel hedging are better off. Some airline companies have long term contracts whereby a certain amount of fuel is purchased for a fixed price. If the price set is lower than the price operated on the market at a given time the company wins, if not, it loses.
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