This is an excerpt from EERE Network News, a weekly electronic newsletter.

April 10, 2002

U.S. Gasoline Prices to be Lower this Summer than Last

Gasoline prices are going up in the United States, but DOE's Energy Information Administration (EIA) anticipates that they will stay lower overall than they were last summer. EIA announced Monday that U.S. gasoline prices for the spring and summer should average $1.46 per gallon, about 8 cents lower than last year's average. Still, that makes it the third-highest average price on record, behind 2000 and 2001.

The announcement also holds good news for the power industry: electricity demand this summer is expected to be roughly equal to last summer's electrical demand. See the EIA press release

EIA's projection does not include any anticipated impacts from Iraq's decision to cut oil exports for the next month, which was also announced Monday. For the latest energy analysis from EIA, see the Energy Situation Analysis Report.