Oil Price Outlook Unchanged from May
Diesel’s national retail price will average $2.98 a gallon this year, the Department of Energy said Wednesday, boosting its most recent prediction by 2 cents.
Trucking’s main fuel will rise to an average $3.13 at the pump next year, also 2 cents over last month’s forecast, DOE said in its monthly short-term energy outlook released Wednesday.
DOE said in its weekly report Tuesday that the national average diesel price was $2.924 a gallon — down more than 20 cents from the year’s $3.127 peak, set on May 10.
The price topped $3 a gallon for eight consecutive weeks ending May 24. Diesel averaged $2.46 per gallon last year.
Gasoline, meanwhile, will average $2.77 a gallon this year, DOE said, and average $2.80 during this summer’s driving season, which generally has the highest price due to strong demand.
Both those forecasts are a penny over last month’s outlook, and the summer figure is 36 cents higher than last year, DOE said. Gasoline averaged $2.726 in this week’s national survey and $2.35 last year.
Crude oil prices — which finished June at about $76 per barrel on the New York Mercantile Exchange — will average $79 in the second half of the year before climbing to $83 next year, unchanged from last month’s outlook.
DOE also said that reductions in crude output resulting from the 6-month deepwater drilling moratorium announced by Interior Secretary Ken Salazar on May 27 will average 31,000 barrels per day in the fourth quarter.
--------------------------------------------------------------------------------------------------------
Remember: Time is money. Order online and save both. Need help ordering online? email msaks@ectts for a FREE over the phone tutorial
parts.ectts.com
