Lafayette looks at hedge fund for gas

LAFAYETTE, Ind. (WLFI) - Lafayette City could also join a hedge fund to reduce gas costs in the new year.  The city council will look into joining Indianapolis and other Indiana cities in a motor vehicle fuel fund.  The alliance would allow cities to purchase gas for a lower price.

"First class cities, which is Indy, the only one large enough and all the second class cities, which there are 16 of us, pool together our gallons and usage and see if we can get a price that is better," said Mayor Tony Roswarski.
 

The council will find out what price the hedge fund sets for gas and see if the city will save money before joining the hedge fund.  Lafayette budgeted $3.50 a gallon for gas next year.