Fuel Tracker

The Energy Information Administration on Dec. 12 issued its Annual Energy Outlook 2006, and the long-term news was not good. In contrast to its previous long-term forecasts, EIA now expects oil prices to remain high for many years; the group projects 2025 oil prices to be, adjusted for inflation, about $54 per barrel. The causes include a growth in worldwide demand, especially in China, and supply constraints resulting from disruptions and inadequate investment to meet the demand growth. The U.S. average price of gasoline per gallon as of Dec. 12 was $2.19, up 4 cents from Dec. 5. The price of crude oil per barrel was $59.41 as of Dec. 9, up 10 cents from Dec. 2. Pictured is a snapshot of local gasoline prices.[[In-content Ad]]