WHERE IS DIESEL FUEL PRICES HEADED?
By: Phil Sneed
TANDEM LOGISTICS NEWS FEED (1/15/2012):
DOE says, Diesel Fuel Prices will be $3.85 per Gallon.
Diesel fuel prices will average $3.85 a gallon this year and rise to $3.93 next year, the Department of Energy said in its monthly short-term energy outlook. In most cases it’s believed the DOE is conservative on their diesel fuel price forecast.
The January 2012 forecast matches December 2011’s outlook, and the projection for next year was DOE’s first for 2013. It would be very good for the U.S. economy if they are correct about the diesel fuel pricing.
Fleet fuel averaged $3.84 last year, and in its most recent weekly survey released Monday, DOE said. Diesel fuel prices rose 4.5 cents to $3.828 a gallon for a national average. Fleet fueling first gain in seven weeks, that is a good thing. It keeps diesel fuel cards a little less active.
Oil will average about $100 per barrel this year, up $5 from 2011. Benchmark U.S. crude will rise to $106 by the end of next year, assuming U.S. real gross domestic growth of 1.8% this year and 2.5% in 2013, the outlook said.
Source: Sokolis Group – January 12th, 2012