Retail gasoline prices this summer expected to be lowest since 2004

The U.S. Energy Information Administration forecasts that U.S. drivers will pay an average of $2.04 per gallon (gal) this summer for regular gasoline, according to EIA's Short-Term Energy and Summer Fuels Outlook. The forecast price for summer 2016 is 59 cents/gal lower than the average price last summer, and it would be the lowest average summer price since 2004. Monthly average gasoline prices are expected to increase to $2.08/gal in June, then fall to $1.93/gal in September. More »