Oil fell to four-year low of $72 on Thursday; Airlines hope the price will slip below $70 a barrel. Airlines in Asia-Pacific are holding off from hedging their fuel costs as they wait for oil to dip below $70 a barrel in hopes of securing lower prices, industry executives said on Friday. The benchmark Brent crude oil price fell more than $6 to under $72 a barrel on Thursday, its lowest since July 2010, after the Organization of Petroleum Exporting Countries opted against cutting production even though a supply glut is pulling down prices. Airlines "hedge" some of their fuel needs - or buy fuel in advance at future, pre-determined prices - to reduce the impact on earnings of any volatility or increases in prices.