EIA expects summer gasoline prices in the US to stay high

Click here to enlarge imageUS retail gasoline prices will average $1.49/gal this summer, lower than last year's average of $1.53/gal but still the second highest summer average on record, according to the US Energy Information Administration.The forecast reiterated testimony the agency gave last month before Congress (OGJ Online, Mar. 30, 2001).EIA's latest short-term forecast assumes no unplanned refinery outages or distribution bottlenecks.The agency said that lower-than-normal crude and gasoline inventories may also contribute to price volatility this summer."While there are reasons to believe that summer gasoline costs may not rise much above current levels, some of the same...

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