Diesel fuel prices will continue falling in 2015, according to a new report from the U.S. Energy Information Administration.
The EIA projects a price of $3.80 for the beginning of 2015, falling from its current average of $3.85. In 2013, prices were as high as $3.92 per gallon, but falling crude oil prices and weakening demand have kept the price of a gallon falling.
The latest forecasts were part of the EIA’s Short-Term Energy and Winter Fuels outlook, which examines all parts of the energy market to determine prices through 2015.
Regular gasoline has also followed a downward trend. Forecasts show the price of a gallon of regular gasoline being as low as $3.38 per gallon in 2015. These projections are in line with weekly reports on fuel prices from the EIA that show a general trend of falling energy prices, even week to week.