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EIA raised its forecast for U.S. gasoline prices this year and next

 Last Update: 2023-01-08
 Source: Internet
 Author: User

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According to Dow Jones on August 10, in its monthly "Short-term Energy Outlook", the U.
S.
Energy Information Administration (EIA) raised its forecast for the national average gasoline price in 2022 and 2023, saying that it now expects the average gasoline price of $4.
07/gallon in 2022, compared with $4.
05/gallon last month, and expects the average gasoline price in 2023 to be $3.
59/gallon, compared with last
month's forecast of $3.
57/gallon.
With gasoline prices falling sharply over the past eight weeks, the upward revision of gasoline prices seems somewhat abnormal
.
But the EIA is still catching up with low expectations at the start of the year, when the agency did not anticipate a record price spike in April, May and early June, with the national average gasoline price soaring to an all-time high of $5.
02 a gallon on June 14
.

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