Both Diesel, Gasoline Well Over $4 / Gallon This Year


The Energy Information Administration has increased its projection for fuel prices this year, and thinks diesel will average $4.32 per gallon and $4.15 or more for gasoline. The forecast reflects a narrowing of refiner gasoline margins from those of last year because of weakness in gasoline demand and growth in ethanol supply, the EIA said. The diesel fuel projection represents a $1.44 increase over the $2.88 average price in 2007.

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