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.
The U.S. Energy Information Administration expects the price of a gallon of diesel to continue falling in 2015 due to lower crude oil prices and weakening demand.
Falling Brent crude oil prices has once again lowered the projected average price for diesel in 2014. The U.S. Energy Department’s Energy Information Administration’s new Short-Term Energy Outlook expects diesel fuel prices, which averaged $3.97 per gallon in 2012, are projected to average $3.91 per gallon in 2013 and $3.73 per gallon in 2014.
The government shutdown has forced the Energy Information Administration to cancel publication of its gas and diesel price update, a key index for trucking fuel surcharges.