DOE Lowers Price Forecasts for Diesel, Gasoline, Crude Oil

Diesel fuel will average $3.90 a gallon this year, the Department of Energy said, lowering a previous forecast.

DOE also reduced its projected prices of gasoline and oil, the department said Tuesday in its monthly short-term energy outlook.

The diesel forecast was 16 cents below last month’s outlook. DOE said trucking’s main fuel will average $3.87 in 2013. Diesel averaged $3.84 last year.

Gasoline will average $3.56 a gallon this year, DOE said. Gas, which averaged $3.53 a gallon last year, will average $3.51 per gallon in 2013.

Gasoline peaked at $3.90 in April and will average $3.60 during the summer driving season from April through September, 19 cents lower than in last month’s forecast.

The monthly outlook often lags DOE’s weekly price surveys. On Monday, it reported diesel fell for a ninth straight week to $3.781 a gallon, while gasoline fell for a 10th week, to $3.572.

Crude oil, the main factor in retail end-fuel prices, will average $97 a barrel this year — $7 below last month’s forecast but $2 over last year’s average.