Recent drops in crude oil prices have led Crystal Cruises to revise its 2009 fuel surcharge policy. If crude oil is below $65 a barrel on a specific quarterly date, the line will reimburse its fuel surcharge to guests sailing in the following quarter.

Given the volatility of oil prices, Crystal Cruises will continue to apply a $12 per guest per day fuel surcharge for Crystal Symphony and Crystal Serenity voyages departing in 2009. However, adjustments will be determined quarterly based on the closing price of light sweet crude oil on the New York Mercantile Exchange, as reported in the Wall Street Journal. If this closing price is below $65 per barrel two weeks prior to the beginning of the upcoming calendar quarter, then Crystal will automatically refund the charged supplement, in the form of a Shipboard Credit, for cruises departing within that quarter.

“We certainly hope that crude oil prices stabilize at a lower rate and that we can pass on this reduced price to all guests on all cruises,” said Gregg Michel, president of Crystal Cruises.

The specific dates on which the price will be measured and the quarters during which refunds may be applied are listed below.

Fuel Price Determination Date Quarter of Possible Fuel Supplement Refunds

December 18, 2008                              First Quarter 2009 March 18, 2009                                   Second Quarter 2009 June 17, 2009                                     Third Quarter 2009 September 17, 2009                             Fourth Quarter 2009

Presently, Crystal Cruises has no fuel surcharges assessed for 2010 sailings…

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