HVAC Breaking News

Jan. 30, 2006: Oil Prices To Exceed $60 Per Barrel Through 2007

WASHINGTON - Prices for oil, gasoline, and natural gas are expected to remain high through 2007, according to the U.S. Department of Energy's (DOE's) Energy Information Administration (EIA).

The EIA's latest "Short-Term Energy Outlook" expects crude oil to average $63 per barrel this year and $60 per barrel in 2007. Retail regular gasoline prices, which averaged $2.27 per gallon in 2005, are projected to average $2.41 in 2006 and $2.33 in 2007. Regular gasoline currently averages about $2.33 per gallon, so the EIA projection calls for increasing prices.

And while spot prices for natural gas averaged $9 per thousand cubic feet (mcf) in 2005, the EIA expects them to average $9.80 per mcf in 2006 before dropping back to $8.84 per mcf in 2007. True to the forecast, crude oil spot prices have been hovering around $64 per barrel in recent weeks, according to EIA's "This Week in Petroleum" report.

Publication date: 01/30/2006

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.



Image Galleries

2015 AHR Expo

Photos from the 2015 AHR Expo at McCormick Place in Chicago.

Posted: February 19, 2015


NEWSMakers: Andy Patron
Andy Patron, partner with FMI Corp., discusses the impact a national labor shortage may have on the mechanical contracting industry. Posted on March 27.
More Podcasts


NEWS 03-23-15 cover

2015 March 23

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

HVAC Trends

The NEWS regularly reports on HVAC industry trends in our weekly issues. What trends do you see?
View Results Poll Archive


2015 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research


Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.


Magazine image
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.


facebook icontwitter iconyoutube iconLinkedIn i con