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Content about Gasoline and diesel usage and pricing

April 30, 2013
EIA Projects Gasoline Prices to Fall During Summer Driving Season

WASHINGTON — Regular retail gas price expected to top off at $3.69 per gallon in May

WASHINGTON — Drivers can expect to see regular gasoline retail prices averaging $3.63 per gallon during the summer driving season, according to projections released earlier this month in the U.S. Energy Information Administration’s (EIA) April Short-Term Energy Outlook.

The projected monthly average price of regular retail gasoline will continue to fall through the April-September driving season, topping off at $3.69 per gallon in May to $3.57 per gallon in September.

The EIA also expects this projection to be reflected on upcoming yearly averages: $3.56 per gallon in 2013, $3.39 per gallon in 2014.

Meanwhile, the Brent crude oil spot price will average $108 per barrel in 2013, $101 per barrel in 2014, the EIA forecasts. This price rose to $119 per barrel in early February, up from last year’s $112 per-barrel average.

The projected discount of West Texas Intermediate (WTI) crude oil to Brent is forecast to average $14 per barrel in 2013, $9 per barrel in 2014. The EIA attributes this drop to planned new pipeline capacity lowering the cost of moving mid-continent crude oil to the Gulf Coast refining centers.

Natural gas working inventories ended March at an estimated 1.69 trillion cubic feet (Tcf), about 0.79 Tcf below last year’s level, and 0.41 Tcf below the five-year average (2008-2012).

EIA expects the Henry Hub natural gas spot price, which averaged $2.75 per million British thermal units (MMBtu) in 2012, will average $3.52 per MMBtu in 2013, $3.60 per MMBtu in 2014.

October 27, 2011
Natural Gas Spot Price Falls Again in September

WASHINGTON — The Henry Hub spot price for natural gas averaged $3.90 per MMBtu in September, 15 cents lower than the August average, according to the U.S. Energy Information Administration’s (EIA) Short-Term Energy Outlook report released Oct. 12. EIA expects that Henry Hub spot prices will fall further in October, before rising above $4 per MMBtu in December.

The report lowers the 2011 forecast by 5 cents to $4.15 per MMBtu, 24 cents less than the 2010 average. Although the average 2011 spot natural gas price is lower than the 2010 average, the forecast price over winter 2011-12 is higher than last winter’s average.

EIA expects this winter’s heating season will start with an average Henry Hub spot price of $3.78 per MMBtu in October, and that the price in 2012 will average $4.32 per MMBtu.

December 19, 2008
EIA Projects Even Lower Natural Gas, Energy Prices This Winter

WASHINGTON — Because the current global economic slowdown is now projected to be more severe and longer than in last month’s Energy Information Administration (EIA) short-term energy outlook, this month’s outlook projects further reductions of global energy demand and additional declines in energy prices.

World real gross domestic product (GDP) growth is projected to slow from about 4% in 2006 and 2007 to about 2.7% this year and 0.5% in 2009. Last month’s EIA outlook assumed world GDP would increase by 1.8% in 2009.

November 17, 2008
EIA Energy Outlook Predicts Lower Natural Gas Prices

WASHINGTON — The Energy Information Administration’s (EIA) short-term energy outlook for November indicates that the current economic downturn has led to a decrease in energy demand and a reduction in crude oil and other energy prices. As a result, projections for both energy demand and prices are much lower than last month’s outlook.

August 19, 2008
EIA’s Short-Term Energy Outlook Shows Decrease in Natural Gas Prices

WASHINGTON — The Energy Information Administration (EIA), the government's energy statistical arm, released its short-term energy outlook Aug. 12, reporting a slight decrease in the price of natural gas as well as gasoline and diesel fuel.

June 23, 2008
Natural Gas Prices Projected to Climb

WASHINGTON — If the price of a gallon of gasoline has distracted you a bit from thinking about the cost of natural gas, that’s understandable. However, the government just released its short-term energy outlook and the news isn’t good.