Diesel and Gas Prices Fall as Oil Hits 2012 Low

May 14, 2012

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The price of oil hit its lowest point this year amid concerns over the state of Europe's economy, driving down the price of gasoline and diesel fuel. The average price of U.S. diesel dropped 1.6 cents last week to $4.057 a gallon. Gasoline, by comparison, dropped 4 cents to $3.79 a gallon.

The Department of Energy last week lowered its forecast for the average regular gasoline retail price for the April-through-September summer driving season by 16 cents to $3.79 per gallon. DOE said in its "Short-Term Energy Outlook" that it expects regular gasoline retail prices to average $3.71 per gallon in 2012 and $3.67 per gallon in 2013, compared with $3.53 per gallon in 2011.

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This article originally ran in NATSO News Weekly (NNW), NATSO's member only weekly electronic newsletter. NNW is packed with the latest updates on government and business issues affecting the truckstop and travel plaza industry.

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Source:
NATSO News Weekly (NNW)

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