- 12 Mar
US EIA revises retail fuel consumption forecast downward
In their Short-Term Energy Outlook report released today, the US Energy Information Administration issued a revised lower forecast for US gasoline consumption over the next two years. The report includes predictions for US gasoline consumption across each quarter in 2013 and 2014, and in every quarter the revised forecast is .2% to .8% lower than the US EIA predictions from their previous Short-Term Energy Outlook report.
The US EIA reports that fuel volume totals for the years 2012, 2013 and 2014 will remain essentially unchanged, explaining that increased travel will be offset by increased fuel efficiency.
From a fuel price management perspective, the news is not as bad as it could be; while fuel volumes have been in a steady decline for the past eight years, at least total anticipated fuel volumes are not expected to decline over this year and next.
The fuel pricing strategy and fuel price optimization game intensifies each year as c-stores battle for an ever-shrinking fuel volume pie. PriceAdvantage fuel pricing software is the key to optimizing both volumes and margins in this battle.