Feds forecast 20 cent hike in diesel prices

| Wednesday, November 08, 2006

The price of diesel fuel isn't going to stay at $2.52 a gallon for long, according to the U.S. Energy Department.

The department's new short-term fuel price projections have the price of diesel going up 20 cents per gallon in the next six months.

DOE spokesman Tancred Lidderdale told "Land Line Now" on XM Satellite Radio that the forecast is based on what normally happens this time of year in terms of the price of crude oil.

The energy department expects diesel prices to peak at $2.72 a gallon by May 2007.

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