Summer 2019 gasoline prices forecast to be lower than last summer (4/10/2019)

In the April 2019 update of its Summer Fuels Outlook, a supplement to the Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) expects the retail price of regular-grade gasoline will average $2.76 per gallon (gal) during summer 2019 (April through September). This expected average is down from both the 2018 summer average of $2.85/gal and the five-year (2014–18) summer average of $2.74/gal. Forecast retail diesel fuel prices average $3.09/gal this summer, down from an average of $3.22/gal last summer but still higher than the five-year summer average of $2.95/gal. EIA forecasts that gasoline and diesel prices will be lower this summer compared with last year primarily because it expects Brent crude oil prices will be lower than last summer. ... More »