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EIA expects summer US real gasoline and diesel prices to be the highest since 2014

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After adjusting for inflation, this summer’s forecast national average price would mark the highest retail gasoline and diesel prices since 2014. US gasoline and diesel consumption continue to remain below their 2019 averages. EIA expects higher fuel prices this summer as a result of higher crude oil prices.

Gasoline 259
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EIA: US retail diesel prices increase to >$6 per gallon in the Northeast; nearly equal to California

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On 16 May 2022, the average US on-highway retail diesel fuel price was $5.61 Although retail diesel prices have increased across the entire United States, prices in the Northeast have increased the most and are now among the highest in the country. On 16 May, the average retail diesel price was $6.43/gal

Diesel 259
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Rhodium Group estimates US GHG emissions rose 1.3% in 2022

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Despite efforts to continue stimulating the US economy in the wake of the pandemic, high inflation put a damper on economic growth, which was exacerbated by a spike in oil prices as a result of Russia’s invasion of Ukraine. Consequently, the US economy grew 1.9% in 2022, down from a 5.7% GDP increase in 2021.

Emissions 273