EIA predicts higher oil, gasoline prices

The U.S. Energy Information Administration predicts that crude oil prices will remain on an upward track through 2000. In addition, EIA estimates that U.S. gasoline prices will average $1.13/gal for regular self-serve this summer, up 9-10¢/gal from the same period last year. "Gasoline demand is expected to be up by 2% over last summer, aided by solid economic growth and by prices that, while noticeably higher than last summer, are still moderate by historical standards. Highway travel in the U.S. may reach 1.4 trillion miles for the season, up about 2.1% from last year." EIA said that U.S. gasoline stocks are currently at the high end of the normal range, particularl...

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