The U.S. Energy Information Administration said it expects diesel to average $2.98 a gallon in 2010, relatively unchanged from last month's prediction, and $3.13 a gallon in 2011, a slight boost from the previous forecast of $3.11.
In its most recent Short-Term Energy Outlook, the EIA said on-highway diesel fuel retail prices averaged $2.46 a gallon in 2009.
With the exception of a one-week rise two weeks ago, diesel prices have been decreasing for the most part. Prior to the rise, diesel fell 19.9 cents over five straight weeks. This week, diesel took a slight tumble to land at a national average of $2.924 a gallon.
The EIA's forecasts for crude oil also remained unchanged from last month's report. The spot price for West Texas Intermediate crude is expected to average $79 a barrel over the second half of this year and $83 a barrel in 2011.
Last week, WTI futures averaged $77 a barrel. In comparison, oil averaged $70 a barrel this time last year.
In its most recent Short-Term Energy Outlook, the EIA said on-highway diesel fuel retail prices averaged $2.46 a gallon in 2009.
With the exception of a one-week rise two weeks ago, diesel prices have been decreasing for the most part. Prior to the rise, diesel fell 19.9 cents over five straight weeks. This week, diesel took a slight tumble to land at a national average of $2.924 a gallon.
The EIA's forecasts for crude oil also remained unchanged from last month's report. The spot price for West Texas Intermediate crude is expected to average $79 a barrel over the second half of this year and $83 a barrel in 2011.
Last week, WTI futures averaged $77 a barrel. In comparison, oil averaged $70 a barrel this time last year.
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