Diesel Market to Double or Triple by 2020

Diesel Market to Double or Triple by 2020

The diesel market has always been booming in Europe, but now it’s finally catching on in the U.S.

Despite fluctuating costs of diesel fuel in the U.S., analysts believe that the diesel market will grow from 3 percent of the U.S. market today to between 6 and 9 percent by 2020. From now until 2016 as many as 40 new diesel vehicles are expected to enter the U.S. market but the stability of diesel-fuel pricing might remain a concern to consumers.

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The price of diesel fuel often rises or falls for reasons unrelated to the price of standard gasoline, such as last winter when diesel cost nearly $1 more than gasoline in some areas of the U.S. As demand for diesel rises around the world, U.S. oil refineries are investing aggressively to produce more diesel, especially since the fuel recently surpassed gasoline as the most common oil-based fuel.

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[Source: Detroit Free Press]

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