Use the following data to answer the questions.

	Aviation Fuel Spot Price at end of September	Gasoline Futures Price at the end of September for the Contract maturing in mid-December	Crude Oil Futures Price at the end of September for the Contract maturing in mid-December
1997	$0.5583	$0.5046	$19.48
1998	$0.3774	$0.3874	$13.02
1999	$0.6214	$0.5573	$19.87
2000	$1.4762	$0.9639	$38.31
2001	$0.6381	$0.6059	$22.13
2002	$0.6571	$0.5707	$21.63
2003	$0.5786	$0.5215	$18.93
2004	$0.5333	$0.5522	$18.45
2005	$0.5238	$0.5102	$17.28
2006	$0.7000	$0.6208	$23.77
2007	$0.5440	$0.5991	$21.12
2008	$0.4500	$0.4730	$16.16
2009	$0.6333	$0.6758	$24.14
2010	$0.9607	$0.8345	$30.71
2011	$0.6702	$0.6418	$23.68
2012	$0.7976	$0.7939	$30.21
2013	$0.7512	$0.7875	$29.40

Consider hedging the US$ cost of Qantas’s September-end 2013 aviation fuel purchases by establishing a position on 31/12/2012 in futures that mature in mid-December. Use the 1997 through 2012 data in the given table to determine:

(1) whether it would be better to hedge with gasoline or crude futures contracts that mature in December and

(2) how many contracts of the chosen type would you trade?