The U.S. Vitality Info Administration (EIA) revealed its newest U.S. common gasoline retail worth forecast in its July quick time period power outlook (STEO), which was launched on July 8.
In keeping with this STEO, the EIA sees the U.S. common gasoline retail worth averaging $3.09 per gallon in 2025 and $3.04 per gallon in 2026. In its earlier STEO, which was launched in June, the EIA projected that the U.S. common gasoline retail worth would are available in at $3.09 per gallon this 12 months and $3.08 per gallon subsequent 12 months.
The EIA’s newest STEO forecasts that the U.S. common gasoline retail worth will common $3.11 per gallon within the third quarter of this 12 months, $2.99 per gallon within the fourth quarter, $2.93 per gallon within the first quarter of 2026, $3.12 per gallon within the second quarter, $3.16 per gallon within the third quarter, and $2.96 per gallon within the fourth quarter of 2026.
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In its earlier STEO, the EIA projected that the U.S. common gasoline retail worth would common $3.14 per gallon within the third quarter, $2.97 per gallon within the fourth quarter, $2.95 per gallon within the first quarter of subsequent 12 months, $3.17 per gallon within the second quarter, $3.21 per gallon within the third quarter, and $3.01 per gallon within the fourth quarter.
Present Costs
In its newest gasoline gasoline replace, which was launched on July 15, the EIA confirmed that the U.S. common gasoline worth averaged $3.164 per gallon on June 30, $3.125 per gallon on July 7, and $3.130 per gallon on July 14. The July 14 worth was $0.366 decrease than the 12 months in the past worth, the EIA gasoline replace outlined.
Of the 5 Petroleum Administration for Protection District (PADD) areas highlighted within the EIA’s newest gasoline replace, the West Coast was proven to have the very best common gasoline worth as of July 14, at $4.041 per gallon. The Gulf Coast was proven within the replace to have the bottom common gasoline worth as of July 14, at $2.738 per gallon.
A glossary part of the EIA web site notes that the 50 U.S. states and the District of Columbia are divided into 5 districts, with PADD 1 additional break up into three subdistricts. PADDs 6 and seven embody U.S. territories, the location provides.
In keeping with the AAA Gas Costs web site, the common U.S. common gasoline worth is $3.160 per gallon, as of July 16. Yesterday’s common was $3.150 per gallon, the week in the past common was $3.162 per gallon, the month in the past common was $3.140 per gallon, and the 12 months in the past common was $3.515 per gallon.
The very best recorded common worth for normal gasoline within the U.S. was seen on June 14, 2022, at $5.016 per gallon, the AAA Gas Costs web site outlined.
What Do You Pay For?
The EIA’s newest gasoline replace, which pegged the Could 2025 common gasoline retail worth at $3.15 per gallon, confirmed that fifty p.c of that whole went in direction of crude oil prices, 17 p.c went in direction of refining prices, 17 p.c went in direction of distribution and advertising prices, and 16 p.c went in direction of taxes.
An EIA gasoline gasoline replace launched final month, which pinned the retail worth of standard gasoline at $3.17 per gallon in April, confirmed that 49 p.c of that whole went in direction of crude oil prices, 19 p.c went in direction of distribution and advertising prices, 16 p.c went in direction of taxes, and 16 p.c went in direction of refining prices.
The EIA notes on its web site that it collects, analyzes, and disseminates impartial and neutral power info to advertise sound policymaking, environment friendly markets, and public understanding of power and its interplay with the economic system and the atmosphere. The AAA Gas Costs web site describes itself as a public service of the US of America’s largest motoring and leisure journey membership group. It’s up to date day by day by Oil Value Info Service (OPIS), the location highlights.
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