November 24, 2009

Gas to Reach Nearly $3 by Summer

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WASHINGTON - The Energy Information Administration (EIA) predicts that gas prices will reach an average of $2.81 per gallon in 2010 and will climb to nearly $3 per gallon next summer.

"Higher crude oil prices throughout the forecast period" will contribute to the increase, say EIA officials. The average price of gas in 2009 is expected to be $2.36 per gallon.

"Projected annual average diesel fuel retail prices are $2.48 and $2.94 per gallon, respectively, in 2009 and 2010," according to the EIA.