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tomman58
Apr 25, 2013Explorer
Here's a little gem from Forbes on fuel,
The good news for motorists is that gasoline prices are expected to be more affordable in the coming months than they were during the two preceding summers. According to the U.S. Energy Information Administration’s (EIA) just released Short Term Energy Outlook, retail gas prices are expected to average $3.63 a gallon during this summer’s driving season. This figure is slightly below the $3.69 figure recorded last year and $3.71 in summer of 2011, and is only slightly higher than the national average of $3.61 a gallon as of April 8.
This sunny forecast is largely based on an expected decline in crude oil prices combined with higher gasoline inventory levels and a continuing drop in demand due to increased small-car sales and other factors. The EIA predicts the price of Brent crude oil (a benchmark that’s tied to wholesale gasoline costs in the U.S.), will average $107.50 per barrel this summer, which would be around $1.50 less than it was during the same period in 2012.
The good news for motorists is that gasoline prices are expected to be more affordable in the coming months than they were during the two preceding summers. According to the U.S. Energy Information Administration’s (EIA) just released Short Term Energy Outlook, retail gas prices are expected to average $3.63 a gallon during this summer’s driving season. This figure is slightly below the $3.69 figure recorded last year and $3.71 in summer of 2011, and is only slightly higher than the national average of $3.61 a gallon as of April 8.
This sunny forecast is largely based on an expected decline in crude oil prices combined with higher gasoline inventory levels and a continuing drop in demand due to increased small-car sales and other factors. The EIA predicts the price of Brent crude oil (a benchmark that’s tied to wholesale gasoline costs in the U.S.), will average $107.50 per barrel this summer, which would be around $1.50 less than it was during the same period in 2012.
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