According to the United States Energy Information Administration (EIA), a new government forecast is calling for double-digit gains in diesel prices next year, while gasoline is expected increase by only half as much. The Energy Department’s latest monthly Short-Term Energy Outlook calls for trucking’s main fuel to average $2.71 per gallon in 2017, a 15.1% hike from this year’s forecast average of $2.36 per gallon.
If this happens it would return diesel to the average level seen in 2015. However, that’s still far less than the $3.83 per gallon average in 2014 reached before fuel prices dropped due to falling crude oil prices stemming from overproduction and decreased worldwide demand.
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