The Energy Information Administration (EIA) says it expects regular-grade gasoline prices to remain at or below current levels until spring 2012, when prices begin their normal seasonal price. It says gasoline prices averaged $3.38 per gallon in November, 52 cents below the peak in May.
EIA also says the warm start to the heating season resulted in a reduction of the average household heating expenditures for heating fuels by around 3% from last month's outlook. "Average household heating oil and propane expenditures are now expected to increase by 8% and 5%, respectively, this winter (October 1 to March 31) compared with last winter. In contrast, natural gas expenditures are projected to decline by 3% while electricity expenditures are 2% lower than last year’s levels," it states.