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Page added on October 9, 2013
EIA Foresees Higher U.S. Gasoline Demand With Lower Pump Prices
The U.S. Energy Information Administration raised its 2013 forecast for gasoline consumption by 0.1 percent from last month’s estimate to 8.71 million barrels a day.
Gasoline demand in 2014 may be 8.67 million barrels a day, up from last month’s forecast of 8.66 million, the statistical arm of the Energy Department said today in its monthly Short-Term Energy Outlook.
The agency reduced the outlook for regular-grade gasoline in 2013 by 3 cents to $3.52 a gallon. Prices in the fourth quarter will average $3.34 a gallon, the EIA said.
The average price next year may sink to $3.40 a gallon, 3 cents below the August estimate of $3.43. Prices in 2012 averaged $3.63 a gallon.
Distillate demand, including diesel and heating oil, will be 3.83 million barrels a day this year, down from last month’s outlook for 3.86 million. The estimate for 2014 consumption was left unchanged at 3.91 million barrels.
On-road diesel will average $3.93 a gallon this year, down from last month’s forecast of $3.96. Next year, prices may drop to $3.76 a gallon, compared with last month’s estimate of $3.82.
4 Comments on "EIA Foresees Higher U.S. Gasoline Demand With Lower Pump Prices"
TIKIMAN on Wed, 9th Oct 2013 12:25 pm
“EIA Foresees Higher U.S. Gasoline Demand With Lower Pump Prices”
No shit.
Mike on Wed, 9th Oct 2013 2:23 pm
The weatherman can’t forecast what’s going to happen two days from now using actual scientific data, I very much doubt ANYONE can predict what an economy is going to do (at least on a micro level) based off the cult of economics
rollin on Wed, 9th Oct 2013 6:07 pm
So a six percent drop in cost causes a 0.1 percent change in use, not bad, barely linked. This could easily be overcome with even small changes in efficiency. Keeping the tires inflated properly will overcome this increase in use.
shortonoil on Thu, 10th Oct 2013 9:13 pm
It is more likely that crude oil prices will increase to $114/b (WTI) next year putting gasoline prices at $3.77/gal.