Not sure I agree there Tom.
The airlines introduced fuel surcharges in 2004 – BA in May 2004 when oil was $38 a barrel. Since oil is current well above that ($47 a barrel) I can’t see why the fuel element of base fares has decreased and should be falling.
Of course the fuel element of the surcharge has decreased and should be falling, then again we know the airlines have metamorphosised the charge into a general surcharge so as to create ambiguity and enable them to avoid reducing it.
Still not sign of the action Osborne promised either. Great talker is our George.