Well, Diesel and crude oil prices are both expected to creep higher through the remainder of this year and all the way through 2011, according to the Energy Information Administration’s August Short-Term Outlook.
Diesel has averaged $2.97 thus far in 2010, 31 cents over the 2009 $2.46 per gallon average. The document even goes on to foretell that diesel will creep even higher in 2011 and will average $3.14 per gallon.
Oil will also continue to inch upward in cost according to the EIA’s prediction. Crude ended July at $78 per barrel, and the EIA anticipates that average growing to $81 per barrel in the fourth quarter. Prices won't ease in 2011 according to the document. The EIA predicts oil to average $84 per barrel in 2011 – which is higher than the agency predicted in its July document.
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