posted August 19, 2008
CARTA Executive Director Tom Dugan said an unexpected steep slide in diesel fuel prices has been a budget lifesaver for the agency.
Mr. Dugan said CARTA budgeted diesel at $4.16 (without taxes) per gallon and paid as high as $4.03 a gallon.
But, with the price coming down, CARTA is now paying $3.21 a gallon.
Mr. Dugan said each one cent rise in the cost of diesel is a $5,000 expense for CARTA.
He said the agency will save $475,000 from the budgeted amount if the price does not go back up.
Mr. Dugan said that savings is needed to offset a lack of expected income at the Incline Railway.
He said tourism has been down this summer, and income has remained about the same at the Incline though it was projected to rise by $300,000 to $400,000 after two recent fare increases.
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