In its January edition of the Short Term Energy Outlook, the DOE’s Energy Information Administration forecasts the price of diesel to average $2.85 this year, which would be a 98-cent drop from 2014’s average of $3.83.
The projection is based on the expectation that crude oil prices will remain low, $58 a barrel in 2015, the DOE predicts.
The same report forecasts the price of diesel to rise to an average of $3.25 a gallon in 2016.
Gasoline, meanwhile, is projected to average $2.33 in 2015 and $2.72 in 2016.