U.S. drivers will pay less for gas this summer than anytime since 2004.
In fact, the average American household will spend a combined $900 less at the pump between April and September than it did in 2014, the Energy Information Agency announced Tuesday.
“Rising crude oil prices are likely to be passed on to consumers at the pump, but U.S. drivers are still expected to pay the lowest summer gasoline prices since 2004,” said Adam Sieminski, the agency’s administrator.
The forecast price of a gallon of regular gasoline at the pump is $2.21 — 42 cents lower than last summer. Thank a worldwide oil glut for the low prices. But don’t wait: the EIA expects prices to rise.
“Higher oil demand in China and India will contribute to a drawdown in global oil inventories during the second half of 2017,” Sieminski said.
Other fun energy facts from Sieminski:
— “The annual amount of electricity generated by natural gas will exceed the generation from coal-fired power plants this year for the first time.”
— “U.S. coal production this year is expected to have the biggest volume decline in almost seven decades.”
— “Wind power will account for almost 6% of U.S. total electricity generation in 2017.”
Find cheap gas in your neighborhood: http://www.ajc.com/gas-prices/
About the Author
Keep Reading
The Latest
Featured
