A sudden war in crude oil prices between Russia and Saudi Arabia could mean a drop in diesel and gasoline prices at American fuel pumps. But the longer-term implications are more worrying.
Nobody wants a recession. That said, the time to prepare your business for the possibility of a recession is now.
Analysts contend that the crude oil supply-and-demand imbalance will be righted just as soon as the price climbs high enough to compel U.S. shale-oil drillers to again ramp up production.
A new fuel price forecast from the U.S. Energy Department shows little change from expectations a month ago for the price of diesel, but the outlook for gasoline has moved a little higher.
Weekly average on-highway diesel and regular gasoline fuel prices saw significant drops last week, according to the latest numbers from the Energy Department.
Federal government expectations for diesel and gasoline prices for this year have been revised significantly lower, as oil is expected to continue to sell for far less that it was in mid-2014.
For the fifth straight week, the average price of a gallon of diesel fuel decreased according to the latest numbers from the Energy Department.
Expectations for diesel and gasoline prices for next year have been revised lower, according to the latest Short Term Energy Outlook issued this week by the U.S. Energy Department.
Diesel and gasoline prices dropped again in the first week of December, setting new lows for the year, according to the latest numbers from the Energy Department.
With diesel and gasoline prices consistently falling all year, there is no sign of a permanent rebound as prices approach new lows.