The Car and Truck Fleet and Leasing Management Magazine

EIA Short-Term Forecast Projects Lower Gas and Diesel Prices in 2012

November 10, 2011

WASHINGTON – The U.S. Energy Information Administration issued its short-term energy outlook earlier this week, projecting the price of oil, gasoline, and diesel through the end of the year and into next year.

For regular-grade retail gasoline prices, EIA said they have fallen 46 cents per gallon from their peak monthly average of $3.91 in May to $3.45 per gallon in October. EIA said this drop in prices is a result of falling crude oil prices and a normal seasonal consumption decline. The organization projects that average regular-grade retail gasoline price will increase to $3.54 through the end of the year but will drop to an average of $3.46 per gallon in 2012.

In terms of gasoline consumption, EIA said it expects it to shrink by 220,000 barrels per day (bbl/d), or 2.4 percent, through the end of 2011. In 2012, the organization said it is projecting growth of 40,000 bbl/d, or 0.5 percent, as highway travel increases and the U.S. economy grows.

For on-highway diesel prices, EIA projects $3.84 per gallon on average through the end of 2011 and a drop to an average of $3.79 per gallon in 2012.

In terms of the cost of purchasing oil for refiners in the U.S, EIA said it expects it to stay flat, around $100 per barrel through the end of the year and into 2012.

Twitter Facebook Google+


Please note that comments may be moderated. 
Leave this field empty:

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.

Sponsored by

A vehicle fueling system capable of running on gasoline or an ethanol blend such as E-85

Read more

Fuel Saving Strategies Survey

View our 2008 survey to benchmark your fleet's fuel and green strategies with other fleets.

Fuel Calculator

A managed fuel program can help you save time and money and gain control over the way you fuel your vehicles. Determine your potential savings by using our fuel calculator.
Launch Fuel Calculator 

Fuel Prices

U.S. Gasoline and Diesel Fuel Prices.

Launch Fuel Prices 

Up Next

More From The World's Largest Fleet Publisher