Retail price of regular gasoline forecast to average $2.25 per gallon this summer

In the July edition of the "Short-Term Energy Outlook" (STEO), EIA forecasts that the U.S. retail price for regular gasoline will average $2.25 per gallon (gal) this summer (March through September). The forecast price for this summer is lower than the 2015 summer average of $2.63/gal, but higher than the forecast from the April 2016 "Short-Term Energy and Summer Fuels Outlook". The change in the forecast since April is largely attributable to increases in crude oil prices. More »