[Bugeater]

Originally Posted by Donger

An update...

"EIA projects a U.S. average retail price in the $2.90s during June and July, after averaging above $3.00 per gallon in May. This projection assumes no significant unplanned refinery outages or crude oil production losses.

Prices could rise back again above $3 per gallon in August, should demand at the end of summer surge, as it often does. Whether gasoline prices set a new record (in nominal dollars) next week is still in doubt. What is clearer is that gasoline prices are expected to remain at or close to $3 per gallon for much of the summer. Although many oil market analysts have talked about the potential for retail gasoline prices reaching $4 per gallon this summer, EIA does not expect the U.S. average price to get anywhere close to that level as long as the oil infrastructure remains largely unaffected this summer. This year is certainly shaping up to be one in which consumers will likely see high gasoline prices throughout the summer months."

Yay.