Summer gas price bite smaller in ’13, feds say

EIA Administrator Adam Sieminski, in a statement accompanying the latest Short-Term Energy Outlook, said slightly lower crude oil prices are a big reason for the decline, noting crude accounts for 65 percent of retail gas costs.

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“With more fuel-efficient cars and trucks on the highways and expected gasoline prices below last year’s level, Americans will have lower motor fuel expenses this year,” he said.

The 2013 yearlong average is also forecast to be lower than 2012 and is expected to dip further next year, according to the EIA, which is the Energy Department’s independent statistical arm.

“EIA expects regular gasoline retail prices to average $3.56 per gallon in 2013 and $3.39 per gallon in 2014, compared with $3.63 per gallon in 2012,” the agency said.


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