The United States Energy Information Administration (EIA) expects that low inventories of distillate fuels, which are primarily consumed as diesel fuel and heating oil, will lead to high prices through early 2023.
According to EIA’s November "Short-Term Energy Outlook" (STEO), diesel prices will remain higher than $5 per gallon the remainder of the year, and bills for homes that use heating oil will increase by 45% this winter season compared with last winter.