In its most recent Short-term Energy Outlook released June 11, the Energy Information Administration lowered its retail gasoline price outlook for this year on weaker crude prices and a recovery in refinery output.
EIA projected regular gasoline retail prices, which averaged $3.63 gallon in 2012, would average $3.49 gallon this year, a penny below May’s estimate. In 2014, retail gasoline is seen at $3.37 gallon, a decline of 2cts from month-ago expectations.
