Wake County taxpayers could save more than $900,000 this year thanks to a timely bulk fuel purchase by the Wake County Public School System’s Transportation Department. This is the third fiscal year WCPSS purchasers have been able to lock in favorable prices well below budget.
WCPSS is projected to use three million gallons of fuel in 2012-13, at a projected cost of $3.30 per gallon, or $9.9 million. But during the summer months, district leaders closely monitored fuel prices and locked in bulk purchases of 1.6 million gallons—roughly a six-month supply—for an average price of $2.82 a gallon.
Fuel prices continue to rise. The state contract price, which is used by most districts to purchase their fuel, topped $3.40 per gallon in October. The fuel purchases at a price more than 50 cents per gallon less than budget could result in more than $900,000 savings for the district.
“We were pleased to be able to create savings again this year by identifying the most timely opportunities to make our fuel purchases,” said Bob Snidemiller, senior director of transportation.
WCPSS made a similar purchase in October 2011 that resulted in approximately $600,000 in savings for the 2011-12 fiscal year.
WCPSS operates approximately 924 buses. Each weekday, more than 75,000 students in Wake County ride to and from school on WCPSS buses, covering more than 19.5 million miles a year.