Retail gasoline prices this summer are expected to be slightly higher than in 2016 (4/12/2017)

The U.S. Energy Information Administration (EIA) forecasts that drivers in the United States will pay an average of $2.46 per gallon (gal) this summer for regular gasoline, according to EIA's Short-Term Energy and Summer Fuels Outlook. The forecast price for summer 2017 (which runs from April through September) is 23 cents/gal higher than the average price last summer, but is still nearly 70 cents/gal below the 2012-2016 summer average (Figure 1). The price increase this summer primarily reflects slightly higher forecast crude oil prices compared with last year. Monthly average gasoline prices are expected to increase from the March price of $2.33/gal to $2.51/gal in July, then fall to $2.43/gal in September. ... More »