DOE Lowers Diesel Price Outlook

Trucking’s main fuel will average $3.76 next year, DOE said in its monthly short-term energy outlook released this week. The price is 6 cents below last month’s forecast.

Diesel will average $3.89 in the fourth quarter, in line with its current national  price of $3.897 as reported by DOE in its weekly price survey on Oct. 7.

Regular-grade gasoline, which averaged $3.53 in September, will average $3.34 in the fourth quarter, down a dime from last month’s forecast and close to its current price of $3.367.

Led by falling crude oil prices, gasoline will average $3.52 this year and $3.40 in 2014, DOE said. The motor fuel averaged $3.63 per gallon in 2012.

DOE raised its forecast for benchmark West Texas Intermediate crude oil prices this year by $3, to $98.59 a barrel.

That’s lower than its Oct. 9 New York Mercantile Exchange closing price of $101.61, the lowest level since July, according to Bloomberg News figures.