For riders, a spike in diesel prices would normally spell bad news for a transit system already under financial pressure.
But in Greater Boston, the Massachusetts Bay Transportation Authority has kept one major budget item unusually steady by locking in half of its diesel supply at $2.23 per gallon, helping turn a sharp market surge into roughly $9 million in rebates.
Here’s what to know
According to WBUR, the agency expects to burn 21 million gallons of diesel this fiscal year, and a fuel-hedging plan covers half of that total at a much lower price.
The agency set that rate in February, before the U.S.-Iran war sent fuel markets into a volatile stretch. WBUR reported that diesel in Massachusetts averaged $6.39 a gallon — 2 cents below the record high, according to AAA — meaning the T had already insulated much of its fuel budget…