espite several media reports last week warning that a shortage of fuel tank truck drivers could cause prices to spike this summer, some noted energy experts say that’s likely to be just a blip.
Hakes says he doesn’t expect the national average gas price to get anywhere near $4 per gallon this summer, as some news stories have suggested. Still, road trippers should also not expect gas prices to look like 2020. “Gas prices are going to be higher than last year,” he says. “But they're going to be in the range of what they were the two years before Covid.”
The U.S. Energy Information Administration , the agency Hakes ran from 1993 to 2000, is the data and analytic arm of the U.S. Department of Energy. The EIA expects that the retail price of regular-grade gasoline in the United States will average $2.78 per gallon during summer 2021. On the demand side, the EIA forecasts that gasoline consumption in 2021 will peak in August at 9.1 million barrels per day, which is up from 8.5 million barrels per day in August 2020 but down from the 9.8 million barrels per day in August 2019.
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Source: Forbes - 🏆 394. / 53 Read more »
Source: Forbes - 🏆 394. / 53 Read more »
Source: Forbes - 🏆 394. / 53 Read more »