Diesel price up
fraction of cent
Apr 14, 2009 12:24 PM
The price of diesel may be less this summer than that of gasoline, according to latest Department of Energy (DOE) data.
The projected decline in diesel fuel consumption in the United States and the growing weakness in distillate fuel usage worldwide are expected to result in a narrowing of refining margins for distillate throughout the forecast period, DOE said in its Short-Term Energy Outlook published April 14. "Because of the global weakness in industrial output, it is possible that we will see diesel prices fall below gasoline prices this summer."
DOE is projecting the price of diesel to average $2.19 per gallon in 2009 and $2.51 per gallon in 2010.
Meanwhile, the price of diesel rose another fraction of a cent last week to $2.229 per gallon, according to the data from the Department of Energy.
Ultra low sulfur diesel rang up at the pump at $2.234 cents per gallon.
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