THE COST of fuel for Dublin Bus could almost double next year, the company has warned.
At present fuel prices, the cost of running Dublin Bus's fleet will rise from €19.6 million in 2007 to €37 million next year.
The company said that it hedged its diesel costs for 2008 at 2007 prices, yet it will still end up costing Dublin Bus €26 million this year, an increase of 32 per cent on 2007. Fuel for last year was hedged at 2006 prices.
It will now be up to Dublin Bus's board to decide if the company will make up the shortfall by raising fares or by looking for an increased Government subvention.
According to CIÉ's most recent accounts, Dublin Bus had revenues of €200.4 million last year, up 6 per cent on 2006. It received a State subvention of €80 million and recorded a surplus of €4.8 million.
Dublin Bus spokeswoman Clíodhna Ní Fhátharta said Dublin Bus was now looking at introducing new measures to save fuel and curb emissions.
It will take delivery of a diesel-electric hybrid bus in the autumn which can cut CO2 emissions by 30 per cent and also reduce fuel consumption which runs at 7,000 gallons of diesel for each bus annually.
Dublin Bus has tested a blend of 5 per cent biodiesel on a number of newer vehicles and is also examining proposals to operate some of its newer buses on 30 per cent biodiesel blend on a trial basis.
However, the company also said that the use of biofuels was under review because of the technical cost of introducing them and the security of supply.
