26Feb/110
Fuel-hedging program = big savings
Why increasing gas prices this year won't have the same effect as increasing gas prices in 2008:
Under state fuel-hedging legislation that passed in spring 2009, prices could be locked in for 24 months forward. In May 2009, Metro and its partners locked in diesel prices for two years at $1.88 per gallon and proceeded to save a combined total of $632,811 in fiscal year 2009-10.
During the current 2010-11 fiscal year that began July 1, Metro and its partners already have saved $1.1 million. As fuel prices continue to increase, the partners project to save even more in the second half of the fiscal year.
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