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No Relief Expected on U.S. Gasoline Prices
Average gasoline prices—which spent last weekend’s Labor Day holiday at a four-year high of $2.83 per gallon—aren’t likely to ease much between now and the end of next year.
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Average gasoline prices—which spent last weekend’s Labor Day holiday at a four-year high of $2.83 per gallon—aren’t likely to ease much between now and the end of next year.
Prices for regular grade fuel this summer have been about 43 cents per gallon higher than they were in the same period last year, according to the U.S. Energy Information Administration. The agency blames relatively high crude oil prices and an increase in miles driven.
Prices typically climb during the summer, because consumption rises and regulations require a blend that costs more to make. EIA says prices rose to $2.85 per gallon from April through August.
The agency projects prices will average $2.76 per gallon for calendar 2018 and will remain at that level next year.
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