Diesel prices expected to near $3 range in 2010

Crude will likely stay in the $50- to $75-a-barrel range with diesel prices expected to stay around $2.50 a gallon this year and as high as $2.88 a gallon in 2010, predicted the Institute’s Richard Weissman during a Webinar hosted by FuelQuest, a fuel management software company.

The Trucker Staff

9/29/2009

Although the economy both globally and at home seems to be easing somewhat, expect energy price volatility to continue for awhile, a spokesman with the Energy Management Institute said Monday.

Crude will likely stay in the $50- to $75-a-barrel range with diesel prices expected to stay around $2.50 a gallon this year and as high as $2.88 a gallon in 2010, predicted the Institute’s Richard Weissman during a Webinar hosted by FuelQuest, a fuel management software company.

As the economy returns, it will take fuel prices with it as oil chips away at inventory levels and OPEC prices return to normal levels, said Weissman. “As goes the economy so goes the price of oil,” he said.

Global demand growth is beginning to recover with China, Russia, India and other huge oil consuming nations having the potential for increased oil demand in the long term.

Of course, “geo politics”, macro economics, the foreign exchange rate and a number of other factors all influence oil pricing, he noted, adding that the political climate can change at any time.

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