Tags: gasoline | price | forecast | demand

US Raises Gasoline Price Forecast, Lowers Demand Outlook

Tuesday, 09 Apr 2013 12:39 PM

The U.S. Energy Information Administration raised its forecast for gasoline prices at the pump in 2013 and reduced its estimate for demand.

Regular-grade gasoline will average $3.56 a gallon this year, up from last month’s forecast of $3.55, the statistical arm of the Energy Department said in its monthly Short- Term Energy Outlook. Prices in 2012 averaged $3.63 a gallon.

Prices may average $3.39 in 2014, the department estimated, up from $3.38 in last month’s forecast.

Gasoline consumption this year will average 8.69 million barrels a day, down from 8.71 million in last month’s projection. Demand in 2014 may be 8.7 million barrels a day, down from last month’s forecast of 8.71 million.

Distillate demand, including diesel and heating oil, will be 3.79 million barrels a day this year, up from the last month’s outlook of 3.75 million. Consumption in 2014 is estimated to be 3.81 million barrels a day, unchanged from the previous projection of 3.81 million.

© Copyright 2017 Bloomberg News. All rights reserved.

 
1Like our page
2Share
Economy
The U.S. Energy Information Administration raised its forecast for gasoline prices at the pump in 2013 and reduced its estimate for demand.
gasoline,price,forecast,demand
158
2013-39-09
Tuesday, 09 Apr 2013 12:39 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved