Both Diesel, Gasoline Well Over $4 / Gallon This Year

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The Ener­gy Infor­ma­tion Admin­is­tra­tion has increased its pro­jec­tion for fuel prices this year, and thinks diesel will aver­age $4.32 per gal­lon and $4.15 or more for gaso­line. The fore­cast reflects a nar­row­ing of refin­er gaso­line mar­gins from those of last year because of weak­ness in gaso­line demand and growth in ethanol sup­ply, the EIA said. The diesel fuel pro­jec­tion rep­re­sents a $1.44 increase over the $2.88 aver­age price in 2007.