The Energy Information Administration (EIA) has lowered the average regular gasoline retail price forecast for the driving season due to the recent drop in crude oil prices. It now projects the April-through-September summer driving season to garner a price of $3.79 per gallon -- 16 cents below the previous forecast. EIA says it expects regular gasoline retail prices to average $3.71 per gallon in 2012 and $3.67 per gallon in 2013, compared with $3.53 per gallon in 2011.

Link to full outlook summary.

See Comments