DOE Sees Diesel Climbing Toward $3 a Gallon
Diesel will average $2.96 a gallon this year and $3.14 in 2011, the Department of Energy said, about in line with a previous forecast.
Trucking’s main fuel averaged $2.46 a gallon last year, DOE said in its monthly short-term energy outlook released Tuesday.
Last month, DOE said diesel would average $2.95 this year and $3.16 next year.
Gasoline, meanwhile, will rise to an average $2.84 this year, up from last year’s $2.35, before rising to $2.96 in 2011, also in line with its most recent forecast.
In its most recent weekly price survey released Monday, DOE said diesel averaged $2.904 and gas $2.751, with both seeing jumps over the past three weeks.
The department pegged its projected increases in motor fuels to anticipated higher crude oil prices.
Oil will average over $80 a barrel this spring before rising to $82 by the end of 2010 and $85 per barrel by the end of next year, DOE said.
Crude is currently trading at about $80 a barrel on the New York Mercantile Exchange. This year’s Nymex closing-day peak price was $83.12 per barrel, set on Jan. 6.
