Vehicle Miles Traveled VMT will increase in 2024 and 2025 to new highs in the United States, the EIA said, with trends in population, economic growth, and especially employment all increasing. The EIA changed is employment growth forecast for this year by 1% compared to the previous month’s STEO forecast—an increase of .8 million jobs from the prior estimate.
Our consumption model captures trends in increasing average fuel efficiency, such as those related to increasing corporate average fuel economy standards and the increasing use of electric vehicles. As a result, U.S. motor gasoline consumption will be about 4% less in 2024 and 2025 than in 2019,” the EIA said. Retail gasoline prices are expected to average $3.48 per gallon this year, and $3.