Outlook for Gas Prices: A Bit Lower This Summer
Gasoline prices for U.S. drivers will be about six cents lower on average this summer compared to last year, according to a new forecast. The Energy Information Administration (EIA) predicts that the average retail price for a gallon of regular gasoline will be $3.63, compared to $3.69 last year. That’s only a slight bump up from the current average of $3.60, cited in the EIA’s weekly gas price survey.
“With more fuel-efficient cars and trucks on the highways and expected gasoline prices below last year’s level, Americans will have lower motor fuel expenses this year,” said EIA Administrator Adam Sieminski in prepared comments. The EIA released its summer gas price analysis Tuesday as part of its latest Short