- 08 Nov
US EIA projects slightly lower fuel prices through 2011
Retail fuels prices are expected to decline through the rest of 2011, according to today’s Short-Term Energy Outlook report from the US Energy Information Administration.
So far this year, regular unleaded monthly average gas prices have dropped $.46/gallon from their highest point in 2011 back in May, when the average fuel price for that month was $3.91 per gallon. The US monthly average fuel price for regular unleaded in October was $3.45 per gallon.
If the US EIA prediction proves to be true, from a fuels price management perspective these last 7 months of the year offer opportunities for fuel price optimization that will increase fuel margins and increased fuels profitability.