Bloomberg News

U.S. Raises 2013 Gasoline Pump Price Outlook, Lowers Demand

January 08, 2013

The U.S. Energy Department increased its forecast for prices at the pump in 2013 and lowered its estimate for gasoline demand.

Regular-grade gasoline will average $3.44 a gallon, up from $3.43 in last month’s forecast, the department’s Energy Information Administration said today in its monthly Short-Term Energy Outlook. Prices in 2012 averaged $3.63 a gallon.

Gasoline consumption this year will average 8.73 million barrels a day, down from 8.74 million in last month’s projection and unchanged from last year.

To contact the reporter on this story: Barbara J Powell in Dallas at bpowell4@bloomberg.net; Dan Murtaugh in Houston at dmurtaugh@bloomberg.net.

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net


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