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US retail gasoline prices expected to fall this summer

April 14, 2016

The US Energy Information Administration forecasts that US drivers will pay an average of US$2.04/gal. this summer for regular gasoline, according to EIA’s Short-Term Energy and Summer Fuels Outlook.

The forecast price for summer 2016 (which runs from April through September) is US$0.59/gal. lower than the average price last summer, and it would be the lowest average summer price since 2004. Monthly average gasoline prices are expected to increase to US$2.08/gal. in June, then fall to US$1.93/gal. in September.

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