August 12, 2014 1:01 PM, EDT
DOE Lowers Diesel-Price Forecast
Daniel Acker/Bloomberg News

Diesel will average $3.83 a gallon in the second half of this year, slightly lower than its current pump price, the Department of Energy said Aug. 12.

The full-year average price for trucking’s main fuel will be $3.89, DOE said in its monthly short-term energy outlook, down 4 cents from the projected price in last month’s outlook.

Diesel averaged $3.92 per gallon last year, the report said.

Gasoline prices will drop even more sharply, from its current $3.50 average to $3.30 per gallon in December.

The U.S. annual average regular gasoline retail price, which averaged $3.51 last year, is projected to average $3.50 this year and $3.46 in 2015.

EIA lowered its crude oil price outlook slightly, to $100.45 per barrel this year, compared with its July forecast of $100.98.

Oil will average $99.85 in the second half of this year, down from $101 in the first six months, the report said.

Benchmark West Texas crude futures will average $96.05 a barrel next year, DOE said.

DOE’s monthly short-term outlook often lags its weekly price survey. This week, diesel and gasoline each slipped a penny, to $3.843 and $3.505 per gallon, respectively.