According to the U.S. Energy Information Administration’s (EIA) latest short term energy outlook (STEO), which was released on April 10, the U.S. regular gasoline price will average $3.09 per gallon in 2025.
In its latest STEO, the EIA projects that the U.S. regular gasoline price will average $3.10 per gallon in the second quarter of this year, $3.14 per gallon in the third quarter, and $3.01 per gallon in the fourth quarter. This STEO highlights that the gasoline price averaged $3.10 per gallon in the first quarter of this year and $3.31 per gallon overall in 2024.
In its previous STEO, which was released in March, the EIA projected that the U.S. regular gasoline price would average $3.22 per gallon this year. The EIA forecast in that STEO that the gasoline price would come in at $3.10 per gallon in the first quarter of 2025, $3.24 per gallon in the second quarter, $3.39 per gallon in the third quarter, and $3.16 per gallon in the fourth quarter.
The EIA projected in its April STEO that the U.S. regular gasoline price will average $3.11 per gallon in 2026. The organization’s March STEO saw the gasoline price averaging $3.21 per gallon in 2026.
In its latest STEO, the EIA projected that the U.S. regular gasoline price will average $2.99 per gallon in the first quarter of next year, $3.21 per gallon in the second quarter, $3.22 per gallon in the third quarter, and $3.00 per gallon in the fourth quarter. In its March STEO, the EIA forecast that the gasoline price would come in at $3.11 per gallon in the first quarter of 2026, $3.30 per gallon in the second quarter, $3.33 per gallon in the third quarter, and $3.10 per gallon in the fourth quarter.
“We forecast that this summer’s inflation adjusted U.S. average regular gasoline price will be the lowest since 2020,” the EIA said in its April STEO.
“The 2025 forecast summer average of about $3.10 per gallon is based on the average of the 2Q25 and 3Q25 U.S. regular gasoline price, when increased travel during the warmer months of the year puts upward pressure on gasoline prices,” it added.
“We expect gasoline prices will average near $3.20 per gallon in the summer of 2026. Compared with recent years, lower forecasted U.S. gasoline prices in 2025 and 2026 are mainly a result of lower crude oil prices,” it continued.
“Although we expect crude oil prices will continue to fall in 2026, creating a downward effect on gasoline prices, that effect is offset by refinery closures and lower gasoline inventories, which cause refining margins for gasoline to rise,” the EIA went on to state.
The EIA noted in its latest STEO that this summer’s average gasoline price will fall below $3.50 per gallon for the first time since 2020, “when the summer gasoline prices averaged $2.55 per gallon”.
“Summer gasoline prices reached a decade high of $4.67 per gallon in 2022, decreasing in subsequent years,” it highlighted.
In its latest gasoline fuel update, which was released on April 15, the EIA showed that the U.S. regular gasoline price averaged $3.162 per gallon on March 31, $3.243 per gallon on April 7, and $3.168 per gallon on April 14. The April 14 price was $0.460 lower than the year ago average, the EIA outlined in the update.
According to the AAA Fuel Prices website, the average U.S. regular gasoline price is $3.162 per gallon, as of April 18. Yesterday’s average was $3.167 per gallon, the week ago average was $3.210 per gallon, the month ago average was $3.078 per gallon, and the year ago average was $3.674 per gallon, the site highlighted.
The highest recorded average price for regular gasoline in the U.S. was seen on June 14, 2022, at $5.016 per gallon, the AAA Fuel Prices site outlined.
To contact the author, email [email protected]
www.rigzone.com (Article Sourced Website)
#USA #Gasoline #Price #Land