The price of diesel fuel saw significant increases for the third straight week, according to the latest numbers from the Energy Department.
Final government forecasts for diesel, gasoline and oil prices before 2017 gets underway are in with two of the three calling for double-digit percentage hikes compared to this year.
The Colonial Pipeline Co. hopes to bring a significant gasoline supply line back online by Saturday, less than a week after a blast that could reduce gasoline supply to the Southeast and Northeast, Reuters has reported.
An explosion in Alabama on what’s said to be the biggest fuel pipeline in the U.S. Monday will likely lead to a temporary price spike in diesel and gasoline in the Southeast states served by the pipeline and also may affect the Northeast.
The price of diesel fuel fell by a small amount for the fourth straight week, maintaining a downward trending, but nearly-flat pattern for the past month.
Diesel and gasoline prices were up over the past week compared to the week before, according to weekly figures from the Department of Energy, but still lower than they were a year ago.
A new government forecast is calling for double-digit gains in diesel prices next year, although gasoline is expected increase by only half as much.
Recent increases in diesel and gasoline prices have translated once again into expectations that costs for both will move even higher the rest of this year and into 2017, according to the Energy Department’s latest Short-Term Energy Outlook.
The average price of diesel fuel increased once again last week continuing a streak of price hikes that began in February.
Federal officials have raised their expectations for diesel and gasoline prices this year and are predicting even larger hikes coming for 2017, according to a new report from the U.S. Department of Energy.