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Retail prices for diesel are projected to average $2.22 per gallon for 2016 before rising to $2.58 per gallon in 2017, EIA noted.
In fact, after spiking to $5 per gallon in 2008, U.S. diesel fuel retail prices averaged only $3.97 per gallon in 2012. Although diesel prices currently are topping $4, the EIA projects diesel will fall to an average of $3.87 and $3.78 per gallon in the next two years.