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July 16, 2012
EIA Lowers Regular Gas Retail Price Forecast for Third Quarter

WASHINGTON — And natural gas prices to average $2.58 per MMBtu in 2012

WASHINGTON — With crude oil prices falling over the last month, the Energy Information Administration (EIA) has lowered the average regular gasoline retail price forecast for the third quarter of 2012 to $3.39 per gallon, according to the agency’s latest Short-Term Energy Outlook.

EIA expects these prices, which averaged $3.53 per gallon in 2011, to average $3.49 per gallon in 2012 and $3.28 per gallon in 2013.

U.S. total crude oil production is expected to average 6.3 million barrels per day (bbl/d) in 2012, an increase of 0.6 million bbl/d from last year, and the highest level of production since 1997.

EIA projects the West Texas Intermediate (WTI) crude oil spot price to average about $88 per barrel over the second half of 2012 and the U.S. refiner acquisition cost (RAC) of crude oil to average $93 per barrel, both about $7 per barrel lower than last month’s Outlook.

July 25, 2011
Energy Prices Higher Than Expected

WASHINGTON — The Henry Hub spot price averaged $4.54 per MMBtu in June, 23 cents higher than the May average and 34 cents higher than forecast in last month’s report, according to the U.S. Energy Information Administration (EIA). The administration expects that the Henry Hub price will average $4.26 per MMBtu over the second half of 2011, as the inventory deficit relative to last year narrows, according to the latest report.

June 22, 2011
Energy Prices Remain High

WASHINGTON — The Henry Hub spot price averaged $4.31 per MMBtu in May, six cents higher than the April average and 11 cents higher than forecast in the agency’s previous report. This increase is reported amid growing consumption, even though inventories remain robust and the production forecast was “revised upward significantly.”

October 3, 2007
Higher Energy Costs Ahead, Government Says

WASHINGTON, D.C. — Consumers may pay record prices for heating oil and natural gas this winter, according to a report from the National Energy Assistance Directors’ Association (NEADA).

Heating-oil consumers will see the worst price increases, with an expected 10.5% rise from last winter. Natural-gas customers can expect to pay 5% more, and those who use electric power to heat their homes and businesses are likely to see a 7% increase.