EIA: higher refining costs could increase summer gasoline prices
Published by Poppy Clements,
Assistant Editor
Hydrocarbon Engineering,
Across the US, the EIA forecasts that retail gasoline prices will average near US$3.70 per gal. from April through September 2024, which is similar to prices during the same period in 2023. Refinery operations are a source of uncertainty for gasoline markets this summer.
The EIA also expects voluntary OPEC+ crude oil production cuts and ongoing geopolitical risks will keep the Brent crude oil spot price near US$90/bbl for the remainder of 2024 before falling to an average of US$85/bbl in 2025 as global oil production growth picks up.
Read the article online at: https://www.hydrocarbonengineering.com/refining/16052024/eia-higher-refining-costs-could-increase-summer-gasoline-prices/
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