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International Business Times
International Business Times
Business

Dieself Prices Are Close To Reaching $6 a Gallon. The Energy Department Raised Its Price Outlook For Next Year.

Energy Information Administration the Energy Information Administration Donald Trump United States AAA
U.S. diesel prices almost reached $6 a gallon on Thursday. (Credit: Getty Images)

The Energy Information Administration outlook raised its forecast for next year's diesel prices as the war in Iran and the disruption to global energy markets continue driving prices higher.

Concretely, the Energy Information Administration raised the forecast by more than 8% compared to the previous estimate. It now expects retail diesel prices to average $4.40 a gallon next year, compared to $4.07 in the last report. The forecast for the current year also increased by 22 cents to $5.07 a gallon. It stands at $5.9773 on Thursday, according to AAA.

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