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Highway diesel, respectively, is forecasted to be $3.70 per gallon in 2024, on average. ... Although the EIA’s initial predictions for fuel prices in 2023 and 2024 may provide some comfort ...
The EIA on Tuesday lowered its forecast for U.S. distillate fuel demand, which includes diesel and heating oil, to 3.83 million barrels a day, about 1% below its prior forecast and a 2.3% decline ...
The fall in oil prices has been so rapid that Wall Street analysts have been forced to revise their forecasts. On Monday, Morgan Stanley cut its Brent price target for the second time in a matter ...
Hubbert's upper-bound prediction for US crude oil production (1956) in red, and actual lower 48 U.S. states production through to 2014 in green Peak oil is the theorized point in time when the maximum rate of global oil production will occur, after which oil production will begin an irreversible decline.
Retail markup over crude oil and wholesale gasoline, 2014–2019 Oil, gas, and diesel prices RBOB Gasoline Prices. In 2008, a report by Cambridge Energy Research Associates stated that 2007 had been the year of peak gasoline usage in the United States, and that record energy prices would cause an "enduring shift" in energy consumption practices. [6]
The United States federal excise tax on gasoline is 18.4 cents per gallon and 24.4 cents per gallon for diesel fuel. [1][2] Proceeds from the tax partly support the Highway Trust Fund. The federal tax was last raised on October 1, 1993, and is not indexed to inflation, which increased 111% from Oct. 1993 until Dec. 2023.
And gas prices are falling fast, with more to come. All of this is music to the ears of drivers. US gas prices fell to a fresh six-month low of $3.31 a gallon on Thursday, down 50 cents from this ...
2004 U.S. government predictions for oil production other than in OPEC and the former Soviet Union The July 2007 IEA Medium-Term Oil Market Report projected a 2% non-OPEC liquids supply growth in 2007-2009, reaching 51.0 kbbl/d (8,110 m 3 /d) in 2008, receding thereafter as the slate of verifiable investment projects diminishes.