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02-15-2013, 06:55 AM
Filed under: MPG (http://green.autoblog.com/category/mpg/), USA (http://green.autoblog.com/category/usa/)
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US gas prices are expected to fall over the next couple of years as fuel consumption levels off, indicating that vehicle fuel-economy gains may have positive long-term effect on everyone's wallets.
Regular fuel prices, which on average rose 2.8 percent in 2012 to $3.63 a gallon, will fall to $3.55 a gallon this year and will decline another 4.5 percent to $3.39 in 2014, the US Energy Information Administration (EIA) says.
And while the vehicle-buying public isn't getting any smaller, fuel consumption is expected to remain basically unchanged at about 8.72 million barrels a day through 2014.
Either way, the percentage of an average household's budget spent filling up neared a 30-year high last year (http://www.autoblog.com/2013/02/05/us-families-spent-an-average-of-nearly-3-000-on-fuel-last-year/), so any news of a fuel-price decline is good news for consumers. So far this year, gas prices have risen more than 20 cents a gallon to about $3.55, according to American Automobile Association (http://fuelgaugereport.aaa.com/?redirectto=http://fuelgaugereport.opisnet.com/index.asp).
Last year, new cars sold in the US had a record-high fuel economy (http://green.autoblog.com/2013/01/08/us-average-fuel-economy-reaches-all-time-high/) of 23.8 miles per gallon, up 6 percent from a year earlier, according to the University of Michigan Transportation Research Institute (UMTRI).
Check out the EIA's set of graphs and reports here (http://www.eia.gov/forecasts/steo/report/us_oil.cfm).
US gas prices to fall over next two years (http://green.autoblog.com/2013/02/15/us-gas-prices-to-fall-over-next-two-years/) originally appeared on Autoblog Green (http://green.autoblog.com) on Fri, 15 Feb 2013 09:30:00 EST. Please see our terms for use of feeds (http://www.weblogsinc.com/feed-terms/).
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http://www.blogcdn.com/green.autoblog.com/media/2013/02/gasprices.jpg
US gas prices are expected to fall over the next couple of years as fuel consumption levels off, indicating that vehicle fuel-economy gains may have positive long-term effect on everyone's wallets.
Regular fuel prices, which on average rose 2.8 percent in 2012 to $3.63 a gallon, will fall to $3.55 a gallon this year and will decline another 4.5 percent to $3.39 in 2014, the US Energy Information Administration (EIA) says.
And while the vehicle-buying public isn't getting any smaller, fuel consumption is expected to remain basically unchanged at about 8.72 million barrels a day through 2014.
Either way, the percentage of an average household's budget spent filling up neared a 30-year high last year (http://www.autoblog.com/2013/02/05/us-families-spent-an-average-of-nearly-3-000-on-fuel-last-year/), so any news of a fuel-price decline is good news for consumers. So far this year, gas prices have risen more than 20 cents a gallon to about $3.55, according to American Automobile Association (http://fuelgaugereport.aaa.com/?redirectto=http://fuelgaugereport.opisnet.com/index.asp).
Last year, new cars sold in the US had a record-high fuel economy (http://green.autoblog.com/2013/01/08/us-average-fuel-economy-reaches-all-time-high/) of 23.8 miles per gallon, up 6 percent from a year earlier, according to the University of Michigan Transportation Research Institute (UMTRI).
Check out the EIA's set of graphs and reports here (http://www.eia.gov/forecasts/steo/report/us_oil.cfm).
US gas prices to fall over next two years (http://green.autoblog.com/2013/02/15/us-gas-prices-to-fall-over-next-two-years/) originally appeared on Autoblog Green (http://green.autoblog.com) on Fri, 15 Feb 2013 09:30:00 EST. Please see our terms for use of feeds (http://www.weblogsinc.com/feed-terms/).
Permalink (http://green.autoblog.com/2013/02/15/us-gas-prices-to-fall-over-next-two-years/) | Email this (http://green.autoblog.com/forward/20461276/) | Comments (http://green.autoblog.com/2013/02/15/us-gas-prices-to-fall-over-next-two-years/#comments)
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