Forecast: $4-plus diesel through summer

In its latest fuel price outlook, the U.S. Energy Information Administration projects that diesel fuel prices will average $4.09 a gallon through this summer. 

In its latest monitoring of on-highway prices, the EIA reported a national average of $4.105. Prices have increased steadily since last October, with the current average $1.03 higher than a year ago. Diesel prices averaged $2.98 a gallon last summer.

Crude oil is expected to average $112.50 a barrel this summer compared with last summer’s average of $74.70. EIA forecasts wholesale diesel margins this summer of 60 cents a gallon, up from last summer’s 40 cents a gallon.