Work Truck Logo
MenuMENU
SearchSEARCH

Diesel, Gasoline Prices Forecast to Remain Low into Next Year

Expectations for diesel and gasoline prices for next year have been revised lower, according to the latest Short Term Energy Outlook issued this week by the U.S. Energy Department.

by Staff
December 9, 2015
Diesel, Gasoline Prices Forecast to Remain Low into Next Year

 

3 min to read


Expectations for diesel and gasoline prices for next year have been revised lower, according to the latest Short Term Energy Outlook issued this week by the U.S. Energy Department.

The average retail price of diesel, which averaged $3.83 per gallon in 2014, is projected to average $2.71 in 2015 but forecast to be slightly less in 2016 at $2.67. This is a penny less for this year, when compared to last month’s forecast, and 3 cents less for next year.

Ad Loading...

This compares to a U.S. average this week of $2.379 per gallon, the lowest weekly average since June 2009.

In the first quarter of 2016, diesel is forecast to average $2.49 per gallon, increasing in the second quarter to $2.67 and topping out at $2.75 in the third and fourth quarters. The final two quarters of 2016 are estimated to be just slightly above actual or projected price levels for this year, but will still be well below all quarters in 2014.

Consumption of distillate fuel, which includes diesel fuel and heating oil, is forecast to fall by 0.9% this year, but increase by 1% in 2016, due to a hike in manufacturing output, foreign trade and marine fuel use.

Meantime, the average price of regular grade gasoline is expected to average $2.43 per gallon for 2015, the same as in last month’s report. In 2016 it's expected to be at $2.36, up 3 cents from the November forecast.

This week the average national price of gasoline came in at $2.053 per gallon, with some analysts expecting it to fall below the $2 mark before the year is out.

Ad Loading...

The monthly average price of U.S. regular gasoline was $2.15 per gallon in November, a decrease of 13 cents from October and 75 cents lower than in November 2014. DOE forecasts U.S. regular gasoline retail prices to average $2.04 in December 2015.

These prices compare to a national average of $3.51 per gallon in 2013 and $3.36 during 2014.

Total U.S. liquid fuels consumption is projected to increase by 1.5% in 2015, higher than the 0.8% increase in 2014, stimulated by continuing employment and economic growth and lower petroleum product prices, according to the report. Total liquid fuels consumption growth in 2016 is forecast to increase 0.8%.

This increase in demand has been outweighed by less demand from other nations, especially China. When combined with increased worldwide oil output, the lower demand has led to a glut of crude oil and deeply lower prices, all of which has translated into lower pump prices for fuel.

DOE expects crude prices to average between a wide margin of $30 to $63 per barrel, meaning there is a lot of uncertainty in the marketplace. Crude was trading for just over $37 per barrel in New York as of mid-day on Wednesday.

Ad Loading...

The good news for fans of lower fuel prices is that prices aren’t expected to spike next year, even if oil is at the upper end of its forecast window.

Originally posted on Automotive Fleet

More Fuel

Infographic titled “Average Diesel Fuel Prices: June 2026” featuring a fuel nozzle, a line chart of rising on-highway diesel prices, and a regional bar chart showing price changes across U.S. regions with directional arrows.
Fuelby Wayne ParhamJune 16, 2026

June Diesel Trends Update

The national average price of a gallon of diesel decreased by 15 cents this week, and all five regions reported lower prices, ranging from just over 10 cents to more than 21 cents cheaper than a week ago.

Read More →
Infographic from RoadFlex showing the transition from a paper fuel receipt to a digital fuel transaction record, highlighting automated tax-exemption tracking, vehicle matching, department coding, audit trail completion, and audit-ready compliance for public fleet fuel purchases.
Fuelby News/Media ReleaseJune 15, 2026

RoadFlex Brings Fuel Tax Compliance & Audit-Ready Reporting to Government Fleets

RoadFlex now offers its capabilities to help public-sector and public works fleets streamline fuel tax exemptions, reclamation, reconciliation, and audit-ready reporting.

Read More →
Close-up of fuel pump selection buttons for diesel and gasoline grades at a fueling station, representing digital fuel payment and fleet fueling technology.
Fuelby Lauren FletcherJune 11, 2026

Fillip Fleet Expands Into U.S. Market With Digital Fuel Card Platform

Fillip Fleet expands into the U.S., bringing digital fuel cards, fleet expense controls, and contactless payments to fleets across North America.

Read More →
Ad Loading...
Promotional graphic for Work Truck’s “Trucks, Tips & Tours” highlighting three benefits of hydrogen fuel, featuring hydrogen storage tanks labeled H2 and a hand holding a hydrogen fuel nozzle beside bold educational text
Fuelby Wayne ParhamJune 2, 2026

3 Benefits of Hydrogen as a Fuel

Hydrogen fuel offers zero harmful emissions, incredible energy density, and flexible production pathways. In this video, we learn from a hydrogen industry insider about the three biggest benefits of hydrogen as a fuel to power commercial vehicles.

Read More →
fleetio coast pay
SponsoredMay 29, 2026

Are You Tracking Your Fleet's True Total Cost of Ownership?

Bobit Business Media surveyed 190 fleet professionals and found that while most fleets are tracking costs, fragmented systems and data gaps are keeping true TCO visibility out of reach. With rising pressure to control spend in an increasingly volatile environment, the gap between what fleets think they know and what the data actually shows is wider than you might expect. See how your peers are managing costs today and where the industry still has room to improve.

Read More →
Infographic titled “Average Diesel Fuel Prices: May 2026” featuring a fuel nozzle, a line chart of rising on-highway diesel prices, and a regional bar chart showing price changes across U.S. regions with directional arrows.
Fuelby Wayne ParhamMay 27, 2026

May Diesel Trends Update

The national average price of a gallon of diesel decreased by more than 7 cents this week, and all five regions reported lower prices, ranging from just over 2 cents to more than 12 cents cheaper than a week ago.

Read More →
Ad Loading...
Promotional graphic for Work Truck’s “Trucks, Tips & Tours” explaining hydrogen fuel production, featuring wind turbines, solar panels, a hydrogen storage tank labeled “Hydrogen H2,” and text showing water and electricity converted into hydrogen fuel.
Fuelby Wayne ParhamMay 27, 2026

How Hydrogen Fuel Is Produced for Fuel Cell Trucks

How is hydrogen produced for fuel cell trucks? Let’s learn more about that as Pajarito Powder CEO Christian Mohrdieck walks us through the process in this video.

Read More →
Graphic promoting the RoadFlex mobile app for fleet fuel risk management. Three smartphone screens display dashboard navigation, fuel station mapping, and transaction tracking over a highway background with the RoadFlex logo below.
FuelMay 26, 2026

RoadFlex Launches Mobile App for Drivers and Fleet Managers

RoadFlex has launched its mobile app to give fleet teams a faster, easier way to manage fleet card activity, capture receipts, review transactions, and maintain spend visibility from the field.

Read More →
Screenshot of the OptiMile.Pro platform displaying a fuel price heat map across the United States. The interface shows station pricing data, color-coded map markers, and dashboard metrics alongside the OptiMile.Pro logo.
FuelMay 20, 2026

OptiMile Pro Launches Fuel Planning Platform to Cut Fleet Fuel Spend

OmtiMile Pro’s new software replaces the "fill up when empty" habit with a globally optimized fuel plan that picks the cheapest stop in the fleet's contracted network and the precise amount of fuel to load on every run.

Read More →
Ad Loading...
Fuelby Wayne ParhamApril 28, 2026

April Diesel Trends Update

The national average price of a gallon of diesel dropped by more than 5 cents this week, and all but one region reported price decreases.

Read More →