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Natural Gas January 23, 2025 06:47:24 AM

EIA Predicts Dip in U.S. Retail Gasoline Prices in 2025 and 2026

Anil
Mathews
OilMonster Author
The U.S. Energy Information Administration (EIA) stated that the U.S. retail gasoline prices are likely to see decline in 2025 and 2026.
EIA Predicts Dip in U.S. Retail Gasoline Prices in 2025 and 2026

SEATTLE (Oil Monster): The U.S. Energy Information Administration (EIA), in its Short Term Energy Outlook, stated that the U.S. retail gasoline prices are likely to see decline in 2025 and 2026.

According to EIA estimates, the U.S. average gasoline prices in 2025 will decrease by 11 cents per gallon. It predicts a further decrease of about 18 cents per gallon in the following year. The predicted lower U.S. gasoline prices are primarily due to lower crude oil prices and declining gasoline consumption. In the meantime, some of the downward pressure of lower crude oil prices on gasoline prices will be offset by falling U.S. refinery capacity over the forecast period.

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EIA: Natural Gas Vehicle Fuel Prices Rose in the U.S. in 2022 and 2023

U.S. Retail Gasoline Prices Averaged Less in 2024

The U.S. retail gasoline prices had reported surge in 2022, but reported decline in 2023 as well as 2024. The prices had declined by 11% between 2022 and 2023. The EIA expects the decline in 2025 and 2026 to be lesser than the decline between 2022 and 2023.

The crack spreads for gasoline is expected to be wider in 2025, than they were in 2024. This is in line with the anticipated dip in U.S. refinery capacity next year, when compared with last year. In the meantime, the U.S. gasoline consumption is likely to witness a small increase during the current year.


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