Dept. of Energy still predicting diesel to fall roughly 10 cents a year in 2014, 2015

| January 07, 2014
Annual diesel price averages and projected 2014 and 2015 prices. (Chart from a screenshot of an interactive EIA graph.)
Annual diesel price averages and projected 2014 and 2015 prices. (Chart from a screenshot of an interactive EIA graph.)

The average price for a gallon of diesel is now forecasted to fall a 11 cents in 2014 from 2013′s average of $3.92, as the Department of Energy’s Energy Information Administration now expects the price of diesel in 2014 to average $3.81 this year.

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The EIA predicted last month in its Short Term Energy Outlook that the price of diesel in 2014 would average $3.77 this year.

The STEO released Jan. 7, in addition to the upward revision, also includes a forecast for 2015: EIA predicts the price next year will drop 9 cents from this year’s forecasted average to $3.72 a gallon.

2013′s average of $3.92 is a drop of 5 cents from 2012′s $3.97.

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The EIA’s forecasts are largely volatile and sway several cents each month based on a variety of factors. For instance, it forecasted in November that 2014′s price would average $3.73 a gallon before revising that to the $3.77 predicted last month.

The diesel price drops predicted for 2014 and 2015 stem from predicted drops in crude oil prices, which the EIA says could drop as supply growth exceeds growth in world consumption.

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  • douglasmorton

    The “department of energy” has never produced one ounce of fuel, they are just another political office that does not do anything except collect large checks, health care and a overpaid retirement. Also have they ever been right about any of their studies?

  • Boogieman

    Such a rip-off how fuel prices are manipulated by the EIA’s forecasts , the stock market ,the weather, temperature, and all the other Bullshit they dream up to use as an excuse to play monopoly with your potential profits.

  • localnet

    Sure thing…

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