DOE Ups Diesel Price Estimates
The Department of Energy has increased its estimates for diesel prices for the rest of 2009 and into 201
The Department of Energy has increased its estimates for diesel prices for the rest of 2009 and into 2010
. According to the most recent monthly Short-Term Energy Outlook, the DOE's Energy Information Administration set its forecast for fourth quarter diesel at $2.79 a gallon, up from last month's forecast of $2.60.
Trucking's main fuel was on the rise for most of October, gaining 22.6 cents during that time. Diesel prices fell this week to an average of $2.801.
For 2010, the agency expects diesel prices to average $2.94 a gallon.
The EIA expects the average price of gasoline to rise from $2.55 a gallon in October to $2.70 in November. A reflection of higher crude prices, the price of gasoline should average $2.36 a gallon for 2009, and $2.81 in 2010. The agency anticipates gas prices to reach near $3 a gallon during next year's driving season.
The department also raised its estimates for the prices of West Texas Intermediate crude oil by $7 per barrel, to an average of about $77 per barrel this winter. The monthly average for crude oil should reach about $81 a barrel by December 2010, as U.S. and world economic conditions improve.
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