July 28, 2008 MBTA reports busiest year in history Play video

(Peter howe, NECN: Charlestown, MA) - High oil prices have Americans cutting back on driving. But those cutbacks are turning into an increase in ridership for the MBTA.

MBTA just reported it has just come off the busiest year in it's 44 year history. Ridership is up 6 percent from last year.

After a drop in 2004 after a fare increase, ridership has steadily grown to $374.8 million in fiscal 2008.

The MBTA said the largest increases came in riders on buses and light rail, such as the Green Line.

MBTA General Manager Daniel Grabauskas tells The Boston Globe that the extra fares aren't enough to solve all the agency's financial problems. The T was forced to deplete much of its reserves to bridge a $75 million dollar budget gap for the new fiscal year.

Material from the Associated Press is included in this report.