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Public Works discusses fuel‑cost hedging and approves ODOT bridge amendment
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Summary
Public Works presented a recurring fuel invoice and discussed hedging options; the Board requested more data. The Board also approved an amendment with ODOT for the Wolf Creek (Lower Grave Creek Road) Bridge No. 33C01 to continue project coordination.
Public Works Manager Richard Pike presented a WECO invoice for fuel purchases and discussed strategies such as fuel‑price hedging to manage recurring diesel and unleaded costs. Pike cautioned that hedging can provide budget predictability but carries market risk, and the Board asked staff to return with historical pricing data and projected budget impacts before deciding whether to hedge.
Pike also presented Amendment No.1 to Agreement No. 730‑00014156 with the Oregon Department of Transportation for the Wolf Creek (Lower Grave Creek Road) Bridge No. 33C01 project to maintain interagency coordination and funding alignment. Commissioners approved the ODOT amendment unanimously.
Next steps: Public Works will provide the requested fuel‑price analyses at a future meeting and continue coordination with ODOT on the bridge project as directed.