EIA expects higher US gasoline prices this spring

US motorists will see higher gasoline prices this spring, averaging about $1.70/gal during the driving season of April through September, with prices peaking at about $1.76 in April, the US Energy Information Administration said.According to its latest monthly analysis of the energy market, EIA expects pump prices to increase by 28¢/gal on an annual basis to more than $1.60/gal in 2003. But the agency expects prices to fall back toward historically lower levels in 2004. EIA said it expects gasoline to decline by about 13¢/gal over 2004, with a corresponding drop in crude oil prices of as much as $5/bbl. During that time, commercial petroleum inventories should increase to more ...

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