Summer gasoline prices are lowest in years

The average retail price for motor gasoline this summer (April through September) is expected to be $2.67 per gallon, the lowest price (in real dollars, meaing adjusted for inflation) since 2009, based on projections in EIA's Short-Term Energy Outlook (STEO). This decline is mainly the result of the projected 41% year-over-year decline in the average price of North Sea Brent crude oil. More »