It's not over until the fat lady sings!!! Would further negotiation for the offered pay but with a 2 week standby be a prefered option??? This would give you more stability & possibly better income from trip pay/expenses depending on your standby month.
Don't sell yourselves short here, nobody wants strike action OR a months standby (with no guaranteed trips). Saying no at this stage doesn't make strike action a certainty, just shows the company how you all really feel.
Don't fall for the old fuel price rubbish, if the fuel price is hurting that bad why have they just reduced the fuel surcharge on tickets!!!!!!