Maybe they have been quietly hedging all along!
It's an opportune time to implement all the fuel savings procedures regardless of the hedging, and enforce them with papertrail, emails and tea and biscuits to maximise the profits and squeeze a little extra out to get a leg up over competition.
Not saying that's what's happening, but if I was the CEO I wouldn't mention anything about hedging to the crews or to the media and pretend to be suffering from petrol-itis like everyone else.