Diesel to Average Near $3 This Year, DOE Says
Diesel fuel will climb to average $2.95 a gallon this year before rising to $3.16 next year, the Department of Energy said.
Trucking’s main fuel averaged $2.46 a gallon last year, DOE said in its monthly short-term energy outlook released Tuesday.
The projection is in line with a previous department forecast. DOE’s latest weekly price survey released Feb. 1 showed a 5.2-cent decline to $2.781 a gallon.
This week’s price survey has been delayed due to a mid-week blizzard around Washington.
Gasoline will rise to $2.84 a gallon this year from $2.35 last year and continue climbing to an average $2.97 in 2011, DOE said, pinning the gain to projected higher crude oil prices.
Oil averaged $78.33 a barrel in January — almost $4 higher than December and matching DOE’s January forecast.
Crude peaked at $83.12 on Jan. 6 before falling to $72.85 on Jan. 9, in part on concerns about the strength of the global economy.
DOE said oil will remain at or near current levels in the mid-$70s over the next few months before rising to near $82 in the late spring and $85 by late next year.
