Diesel Price Outlook Revised Slightly Upward
Diesel fuel prices, which averaged $3.92 per gal in 2013, are projected to average $3.85 this year.


The U.S. Energy Department has revised upward its forecast for fuel prices, according to its latest Short Term Energy Outlook.
Diesel fuel prices, which averaged $3.92 per gal in 2013, are projected to average $3.85 this year and $3.78 in 2015. That’s up two cents and five cents, respectively, from its projection a month ago.
The price of diesel is also forecast to continue moving lower as 2014 progresses, dropping from an expected average of $3.95 in the current quarter to $3.76 in the fourth quarter.
Regular gasoline retail prices, which fell from $3.63 per gallon in 2012 to an average of $3.51 in 2013, will continue to fall to $3.45 this year and $3.37 in 2015, nearly unchanged from last month’s outlook
The reason for the declines, says the department, is crude oil prices are projected to move slightly lower, though not as much as called for earlier.
The average West Texas Intermediate crude oil price, which fell to $95 per barrel in January 2014, increased to $101 in February as a result of strong Midwestern refinery runs after cold-weather-related disruptions in January. The forecast calls for it to average $95 this year, $2 higher than last month's outlook, and $90 during 2015.
Brent crude oil prices in February averaged between $108 and $112 per barrel for the eighth consecutive month. DOE expects the Brent crude oil price to weaken as non-OPEC supply growth exceeds growth in world consumption. The Brent crude oil price is projected to average $105 per barrel and $101 per barrel in 2014 and 2015, respectively.
Growth in domestic crude oil production is expected to continue contributing to a decline in imports. The share of total U.S. liquid fuels consumption met by net imports peaked at more than 60% in 2005 and fell to an average of 33% in 2013. DOE expects the net import share to decline to 25% in 2015, which would be the lowest level since 1971.
More Fuel Smarts

Record Diesel Prices Squeeze Trucking Fleets
Average U.S. diesel prices have climbed to nearly $6 a gallon, surpassing the 2022 record as tight refinery capacity and Middle East disruptions keep fuel costs elevated.
Read More →
How Fuel Delivery Shapes Engine Performance
Fuel delivery depends on more than what happens at the injector. For fleet, maintenance and technical professionals, looking at the full path from pump to injector can provide useful context for understanding engine performance.
Read More →
East Coast Port Launches $45M Electric Truck Push
The Port Authority of New York and New Jersey announced millions in incentives for zero-emission drayage trucks, yard tractors, and new charging hubs near the port.
Read More →
California Bill Could Shed Light on Electric Truck Prices
Why do battery-electric Class 8 trucks remain so expensive? A California bill headed to Gov. Gavin Newsom would give fleets and state agencies more visibility into what manufacturers charge.
Read More →
Detroit Opens Orders for EPA 2027 Engines
Detroit isn’t starting from scratch to meet EPA 2027 diesel emissions standards. Its Gen 6 DD13 and DD15 engines keep much of today’s platform while updating the fuel and aftertreatment systems.
Read More →
Zero-Emission Truck Corridor Planned for West Coast
California, Oregon, Washington, British Columbia and Baja California are coordinating plans for truck charging and hydrogen fueling from Canada to Mexico.
Read More →A Closer Look at Kenworth’s Electric T880E Vocational Truck [Video]
Learn more about Kenworth's T880E battery-electric vocational truck at the Paccar Technical Center, including its range, applications, upfitting considerations, and PTO options, in this HDT Spotlight video.
Read More →
Kenworth T880E Brings EV Power to Vocational Trucks
A closer look at the Kenworth T880E’s range, charging, powertrain and upfit options — and where fleets are showing the most interest.
Read More →
Jennie Abarca Is Proving Electric Trucks Can Do the Job
HDT Truck Fleet Innovator Jennie Abarca is building confidence in fleet electrification one load at a time while openly sharing the challenges she encounters along the way as a small-fleet owner.
Read More →
Cummins Adjusts 2027 Engine Rollout After EPA Proposal
The engine maker will gradually introduce its new Model Year 2027 diesel engines while continuing to offer current models during the transition, citing the EPA's proposed emissions rule changes.
Read More →

