Diesel to Average Near $3 This Year, DOE Says

Posted on 25 February 2010 by Rhonda Flathman

The Department of Energy’s monthly short-term energy outlook projects that diesel fuel will average nearly $3 a year before eclipsing that mark in 2011. 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. DOE said the cost of oil per barrel 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.

Diesel fuel will climb to average $2.95 a gallon this year before rising to $3.16 in 2011, 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 Wednesday.

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.

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