EIA expects higher gasoline prices for driving season, full year

07/14/2014
During the April-September summer driving season this year in the US, regular gasoline retail prices will average $3.66/gal, 8¢/gal higher than last year and 4¢ higher than projected last month, according to a forecast from the US Energy Information Administration in its July Short-Term Energy Outlook (STEO). As lower refinery margins more than offset higher crude oil prices, regular gasoline retail prices are projected to fall from an average of $3.68/gal during the second quarter to $3.64/gal during the third quarter. EIA expects regular gasoline retail prices to average $3.54/gal this year and $3.45/gal in 2015. This compares with the agency's forecasts of $3.50/gal this year and $3.38...
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