EIA again raises US fuel price outlook as demand destruction looms

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US retail diesel prices are expected to hit a fresh record high in May, averaging $5.61/gal, the Energy Information Administration said May 10, as it also raised the summertime US gasoline price outlook. Higher activity by long-haul truckers and oil and gas drillers has raised diesel demand, EIA said. US distillate stocks fell 9.4 million barrels, or 8%, in April…