As summer gets closer, the Federal Energy Information Administration is forecasting that price of gasoline and diesel fuel will increase slightly, but still remain much lower than seen in the previous year.
Nationwide, gasoline this summer is predicted to average $2.23 a gallon compared to $3.81 last summer. Diesel fuel is expected to average $2.27 a gallon compared to $4.37 a gallon last summer, nationally. According to authorities, there has been less demand for all refined products, due to the recession. They also noted that they are seeing a slight increase in demand for gasoline, indicating consumers are driving more as prices have moved lower.
In other recession news, trucking firm, USA Truck Inc., have reduced employment and other operating expenses. USA Truck showed a first-quarter net income loss of $1.88 million, according to their statement released on April 16th, 2009.
© 2009, Allen Smith. All rights reserved.