Latest Energy Information Administration Stories

By Tom Doggett WASHINGTON (Reuters) - U.S. retail gasoline prices declined 2.5 cents over the last week to $2.87 a gallon, the lowest level in six weeks, the U.S. government said on Wednesday. The pump price for regular unleaded gasoline is still 77 cents higher than a year ago, based on the Energy Information Administration's weekly survey of service stations. The drop in the latest pump price would have been steeper, but in a rare move the EIA revised up the prior week's national...

WASHINGTON (Reuters) - Despite the average price of gasoline in the United States still holding just below $3 a gallon, higher fuel expenses shouldn't be enough to cancel the family driving vacation this summer, the government's top energy forecasting agency said on Wednesday. The average price for regular unleaded gasoline jumped 3.8 cents last week to $2.95 a gallon, after declining during the prior week for the first time in a month and a half. Spot gasoline prices, which are close...

WASHINGTON (Reuters) - The rise in U.S. retail gasoline prices slowed dramatically over the last week, increasing just half a penny to a national average of $2.92 a gallon, the government said on Monday. The latest pump price is still the fourth highest ever and up 68 cents from a year ago, based on the federal Energy Information Administration's weekly survey of service stations. However, the half penny price rise is much smaller than the roughly 10-cent jump in fuel costs that...

WASHINGTON (Reuters) - The price U.S. drivers will pay for regular unleaded gasoline could hit a national average of $3 a gallon this year, the government's top energy forecasting agency said on Wednesday. "Some stations have already posted prices for regular gasoline that exceed $3 per gallon and it is certainly possible that average retail prices across the country could reach that level sometime this year," the Energy Information Administration said in its weekly review of the oil...

By Tom Doggett WASHINGTON (Reuters) - The U.S. retail price for gasoline shot up 10 cents over the last week to an average $2.78 a gallon, the highest level since early October, and is expected to keep climbing, the government said on Monday. The national average price for regular unleaded gasoline has soared 29 cents a gallon in the last three weeks and is up 55 cents from a year ago, based on the federal Energy Information Administration's weekly survey of service stations. Pump...

By Tom DoggettWASHINGTON -- The price U.S. drivers will pay for gasoline this summer will average a record $2.62 a gallon, up 25 cents from last summer, and motor fuel demand will be 1.5 percent higher, the government's top energy forecasting agency said on Tuesday."Gasoline prices are expected to increase because of the higher cost of crude oil compared with last year and the increase in production and distribution costs associated with (low sulfur fuel requirements) and the phase-out...

By Tom Doggett WASHINGTON (Reuters) - The price U.S. drivers will pay for gasoline this summer will average $2.62 a gallon, up 25 cents from last summer, and motor fuel demand will be 1.5 percent higher, the government's top energy forecasting agency said on Tuesday. "Gasoline prices are expected to increase because of the higher cost of crude oil compared with last year and the increase in production and distribution costs associated with (low sulfur fuel requirements) and the...

By Tom Doggett WASHINGTON (Reuters) - U.S. retail gasoline prices jumped another 3.5 cents over the last week to the highest level since early November, the government said on Monday. The national price for regular unleaded gasoline averaged $2.37 a gallon, up 31 cents from a year ago, based on the federal Energy Information Administration's survey of service stations. Pump prices have risen 11.2 cents in the last two weeks as gasoline demand picks up with the busy U.S. spring driving...

By Tom Doggett WASHINGTON (Reuters) - U.S. consumers will face high gasoline prices this busy summer driving season and should expect to pay more than $2.50 a gallon at the pump, the government's top energy forecasting agency said on Wednesday. High crude oil costs, which account for about half the cost of making gasoline, and strong demand for motor fuel as the weather gets warmer will push up pump prices, according to the federal Energy Information Administration. "As people begin to...

By Tom Doggett WASHINGTON (Reuters) - U.S. and world oil demand will be lower than expected through June as petroleum prices stay high, the government's top energy forecasting agency said on Tuesday. The projections of lower demand, particularly for the second quarter, come as OPEC ministers meet in Vienna this week to review their production policies and could justify concerns of some cartel members that output needs to be cut at some point in the coming months to prevent a drop in...