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The U.S. Energy Department has downwardly revised its expectations for on-highway diesel prices this year, but expects prices to move higher in 2016.
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Diesel and gasoline prices continue to drop for the third straight week as U.S. crude oil inventories stay at record high levels and demand remains low.
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The national average cost of on-highway diesel has moved lower for the second consecutive week, following five straight weekly hikes, while regular grade gasoline edged higher.
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A rally for on-highway diesel prices has ended with the average cost of the fuel falling for the first in more than a month, according to the latest weekly report from the U.S. Energy Department, as the price of crude oil is down dramatically.
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The U.S. Energy Department has raised its expectations for fuel prices, according to the latest Short-Term Energy Outlook issued on Tuesday.
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The national average cost of on-highway diesel has posted its fifth weekly increase but prices have started to moderate a little in some parts of the country, according to new U.S. Energy Department figures.
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Diesel prices continue rebounding since hitting their lowest level in five years last month gaining 3.6 cents this week to reach a national average of $2.93 per gallon.
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The average U.S. cost of on-highway diesel has increased for the third straight week since hitting a five-year low early this month, according to the U.S. Energy Department.
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Fuel prices continue to recover from their lowest levels in years, with both diesel and gasoline increasing over the past week, according to new U.S. Energy Department figures released on Tuesday.
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Despite the first upturn since November in average diesel prices this week, expect prices to move slightly lower at least for a while longer, according to the U.S. Energy Department and its latest Short-Term Energy Outlook released on Wednesday.
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