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DOE: Adjusted for inflation, the price of gasoline in 2019 was similar to the price in 1929

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The average annual price of gasoline has fluctuated greatly over the past several decades, but when adjusted for inflation (constant dollars), the price of gasoline in 2019 was only nine cents higher than in 1929, according to the US Department of Energy (DOE). Note: Retail price includes Federal and State Taxes.

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Average price of new light trucks in 2019 was 43% higher than average price of new cars

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Prices for new light trucks—pickups, vans, and sport utility vehicles (SUVs)— averaged 43% more than new cars in 2019. From 1990 to 1995, cars had a higher average price than light trucks. Price data are adjusted for inflation (constant 2019 dollars). Light trucks include classes 1-3.

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EIA expects increased US crude oil production, with continued high petroleum prices in 2022

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The US Energy Information Administration (EIA) forecasts that US crude oil production will average 11.9 million barrels per day in 2023, which would surpass the record average production of 12.3 million barrels per day set in 2019. The Henry Hub natural gas price will average $8.59 —EIA Administrator Joe DeCarolis.

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EV developer Rivian closes $2.5B funding round; raised $10.5B in total since 2019

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Rowe Price Associates, Inc. As we near the start of vehicle production, it’s vital that we keep looking forward and pushing through to Rivian’s next phase of growth. This infusion of funds from trusted partners allows Rivian to scale new vehicle programs, expand our domestic facility footprint, and fuel international product rollout.

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EIA: US crude oil production will increase to new records in 2023 and 2024

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In its January 2023 Short-Term Energy Outlook , the US Energy Information Administration (EIA) forecasts that crude oil production in the United States will average 12.4 million b/d set in 2019. In 2022, US crude oil production averaged an estimated 11.9 million barrels per day (b/d) in 2023 and 12.8 million b/d.

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EIA: Crude oil demand returns faster than supply, increasing prices and reducing inventories

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The price of US benchmark West Texas Intermediate (WTI) crude oil is near its highest level since 2014, increasing rapidly from low prices in mid-2020 as demand returns faster than supply, according to the US Energy Information Administration (EIA). Refineries use crude oil as a feedstock to produce petroleum products.

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EIA: Permian region expected to drive US crude oil production growth through 2019

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The US Energy Information Administration (EIA) August Short-Term Energy Outlook (STEO) forecasts that US crude oil production will average 10.7 million b/d in 2019. In particular, the Permian region in western Texas and eastern New Mexico is expected to account for more than half of the growth in crude oil production through 2019.

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