DOE forecasts $2.66 diesel average in '07

| Thursday, December 14, 2006

The U.S. Department of Energy is predicting diesel fuel prices in 2007 will average only a few cents above the current price.

In a revised forecast, the department said diesel should average around $2.66 a gallon next year - 3 cents higher than an earlier forecast.

The revised prediction is only 2 cents above today's average price of $2.64, according to ProMiles.

In a related move that's expected to push diesel and gas prices higher, ministers from the Organization of Petroleum Exporting Countries? oil ministers Thursday announced they'll soon cut production by half a million barrels a day.

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