D.O.E. Says "Whoops!" on Fuel Price Guestimates

Betting on fuel prices is like betting on a pool game between two unknowns in a shady looking backstreet pool hall. A month ago Uncle Sam's energy wizards projected diesel prices for the 2008 year. Today they're running the estimates up 18 cents a gallon. Here's the breakdown:

January: $3.31
February: $3.29
March: $3.27
Whole Year: $3.21

In the last two weeks the average retail price of diesel has actually dropped 9 cents a gallon. Hurrah! But keep saving up your pennies.

Gasoline prices are expected to shoot back up to over $3.40 per gallon in time for summer drives.

Office Photo Courtesy ricardo.martin on flickr.com