U.S. average gasoline and diesel fuel prices expected to be slightly lower in 2013 than in 2012.
U.S. average gasoline and diesel fuel prices expected to be slightly lower in 2013 than in 2012
Despite the recent run-up in gasoline prices, the U.S. Energy Information Administration expects falling crude oil prices will lead to a small decline in average motor fuel costs this year compared with last year.
The price for regular gasoline is expected to average $3.55 a gallon in 2013 and $3.39 next year, according to EIA’s new Short-Term Energy Outlook. That’s down from $3.63 a gallon in 2012.
For the short-term, however, pump prices are expected to peak at $3.73 per gallon in May because of higher seasonal fuel demand and refiners switching their production to make cleaner burning gasoline for the summer.
Diesel fuel will continue to cost more than gasoline because of strong global demand for diesel. Diesel will average $3.92 a gallon this year…down a few pennies from last year…and average $3.82 in 2014.