Tag: gasoline

Official

U.S. retail gasoline prices to decrease in 2025 and 2026 with lower crude oil price

In our January Short-Term Energy Outlook, we now forecast U.S. retail gasoline prices through the end of 2026. We estimate U.S. average gasoline prices in 2025 will decrease by 11 cents per gallon (gal), or about 3%, compared with 2024. In 2026, we forecast a further decrease of about 18 cents/gal, or an additional 6%. The lower U.S. gasoline prices are primarily a result of lower crude oil prices, as well as decreasing gasoline consumption in 2026 because of increasing fleetwide fuel economy. Decreasing U.S. refinery capacity over the forecast period may offset some of the downward pressure of lower
Official

In 2024, U.S. retail gasoline prices averaged about 20 cents less than in 2023

The U.S. retail price for regular grade gasoline averaged $3.30 per gallon (gal) in 2024, $0.21/gal less than in 2023. Lower crude oil prices and narrower refinery margins in 2024 than in 2023 both contributed to the decrease in U.S. retail gasoline prices, according to data from our Gasoline and Diesel Fuel Update. From the first week of 2024 through the last week, national average weekly gasoline prices decreased $0.08/gal.
Official

What are gasoline sulfur credits, and how do they work?

The U.S. Environmental Protection Agency's (EPA) Gasoline Sulfur program sets limits on the sulfur content of gasoline sold in the United States, with the aim of reducing a variety of vehicle emissions. The program relies on tradable credits that allow U.S. refiners and gasoline importers to reach compliance with sulfur specifications. For the second year in a row, in 2023, gasoline suppliers obtained and retired more sulfur credits than they generated, a trend that could increase supplier compliance costs and the price of octane in gasoline if it continues.