EIA says U.S. will see prolonged high prices – Energy Information Administration on gasoline prices – Brief Article – Statistical Data Included
The Energy Information Administration expects average monthly prices for regular gasoline to range between $1.50 and $1.75/gal nationwide this summer. The $1.60 mean of this range would be about 5% above last year’s record. Regarding electricity, EIA notes that while nearly 2,000 MW of new generating capacity will go online in California this summer, the new capacity will not be enough to satisfy the state’s growing demand. In April 2001, spot natural gas prices averaged $13.30/Mcf in Southern California, or 50% higher than levels in Northern California and about 2.5 times greater than rates in the rest of the country. EIA predicts that U.S. gas demand will rise 1.9% this year, to 23.18 Tcf, and in response to high rates of drilling, U.S. gas output will jump 2.7%, to 19.65 Tcf.
COPYRIGHT 2001 Gulf Publishing Co.
COPYRIGHT 2001 Gale Group