The retail price at the pump also includes federal, state, and local taxes. The gasoline and diesel price declines largely reflect a drop in crude oil prices. Table 12. Petroleum product prices (Reference case) Learn more: Gasoline prices and outlook Diesel fuel prices and outlook. Brent oil price forecast for March 2020. High price 60.50, low 58.72. The average for the month 59.43.

By … Download image What we pay for in a gallon of: Regular Gasoline March 2020 Retail price: $2.23/gallon Diesel March 2020 Retail price: $2.73/gallon Taxes Distribution & Marketing Refining Crude Oil 22% 42% 2% 35% 21% 39% 12% 29% Source: U.S. Energy Information Administration, Gasoline and Diesel Fuel Update

The Oil Price forecast at the end of the month 59.61, change for March 1.2%.

At $2.65 per gallon, the national average price of regular unleaded is two cents cheaper than it was a month ago.

That trend of slow decreases should continue because of the combination of cheaper crude oil and seasonally lower demand for gas.

Last updated: December 6, 2019 Oil Price forecast for April 2020. In the beginning price at 59.61 Dollars. EIA forecasts that U.S. average retail prices for regular-grade gasoline will average $1.91 per gallon (gal) and diesel retail prices will average $2.22/gal in the second quarter of 2020. Figures: U.S. gasoline and crude oil prices and U.S. diesel fuel and crude oil prices; Real Prices Viewer: Regular gasoline retail prices and diesel fuel retail prices; Annual Energy Outlook. As of July 1, 2019, the average of total state taxes and fees for on-highway diesel fuel was 31.54¢ per gallon. The federal excise tax for on-highway diesel fuel is 24.30¢ per gallon, and the federal Leaking Underground Storage Tank fee is 0.1¢ per gallon. In the beginning price at 58.90 Dollars.