In the council’s quest to get more on-going information about our budget, last Friday we were added to the months updates on fuel prices. And of course, the news is not good. Here’s the main details:
1. Weighted average fuels prices reached yet another record high in May of 2008. May average prices of $3.78 per gallon were $1.31 (53.2%) higher that those of May, 2007.
2. Year to date, City agencies have consumed 35,664 gallons (8.7%) more motor fuel over the first five months of 2008, with the month of February showing the greatest increase (18,119 gallons) versus the same month of 2007.
3. The combination of much higher prices and slightly higher volume usage has resulted in fuel expenditures $482,344 (49.5%) greater than those over a similar period of last year.
4. Looking ahead, fuel prices have remained very high over the first few days of June.
Sounds like it might be time for us to limit all unnecessary travel by city employees to limit what we need to take from our reserve or “rainy day fund”.
