Are Cruise lines passing on fuel prices?

With all the news about fuel prices reducing on our forecourts and it is almost under £1 per litre  are cruise lines passing on the saving?  A few years ago Fred Olsen actually increased the prices of existing bookings because the price of a barrel of oil had increased.  Look at Fred Olsen’s terms and conditions below –

‘4.2.1 If there is an increase or decrease in the cost of providing any Holiday under a Contract of more than 3% caused by an increase or decrease in: transportation costs, including the cost of fuel; dues, taxes or fees for the services imposed by third parties not directly involved in the performance of the Holiday, including tourist taxes, landing taxes and embarkation and disembarkation fees at ports and airports; or exchange rates, then a surcharge may be levied and may include an amount to cover agents’ commission or a refund may be provided. In no circumstances shall any increase exceed 10% on top of the Price quoted at the time of your Booking. If a surcharge is made it will be demanded in writing. Failure to pay a surcharge within 14 days may be treated as cancellation by you of the Contract in which case a cancellation charge of the amount shown under paragraph 5 (“Cancellation by You”) applicable on the date of FOCL’s decision to cancel will be made.

4.2.2  No surcharges will be charged less than 30 days before the Departure Date but Bookings received within this period may be charged at the published price plus any surcharge arising up to the date of that Booking.

4.2.3  Similarly, if there is a decrease of more than 3% in the costs of providing any Holiday under a Contract (as per paragraph 4.2.1) then any decrease over 3% will be passed on to you.’

Cruise lines stock fuel and oil months and probably years in advance to get the best deal, so if the prices of a barrel of oil keeps coming down will the price of cruising fall too? Or will the cruise lines say that their fares have already decreased to cover themselves?

I believe It is all a conspiracy theory.  All cruise lines could save millions of pounds or $US if the fuel prices keep going the way it is and might not even pass this saving onto the client.  How do we know how much they have paid for oil, do the companies have huge stock piles or do they order their fuel in advance as I said before?  I guess we will never know, however if one Cruise line announces that they are reducing prices because of this then surely everyone else should follow.  Who is going to be the first to get a public ‘pat on the back’ for being honest?